đ„Litecoin Holders Cash In â Highest Selling Activity in Two Monthsâ
According to Santimentâs Network Realized Profit/Loss (NPL) metric, Litecoin holders are currently booking significant profits. Data shows that Saturday experienced the highest profit-taking since March 24, with another smaller surge occurring on Monday. These spikes suggest increased selling pressure as holders capitalize on gains.
Santimentâs Age Consumed indicator also signals caution. This metric tracks dormant tokensâthose held in wallets for extended periodsâthat are now moving. Historically, such movements have preceded short-term price declines, as seen when LTC owners transfer coins to exchanges, increasing sell-offs.
Litecoin Price Outlook: Possible Dead-Cat Bounce
After breaking below its rising trendline and the 200-day exponential moving average (EMA) at $93.70 last Thursday, Litecoin dropped 8.12% the following day. Although it showed modest recovery over the next few days, it was trading near $89.30 at the time of writing.
This sets the stage for a potential dead-cat bounceâa brief price uptick within an ongoing downtrendâlikely facing resistance near the 200-day EMA at $93.70. This level coincides with a critical 50% retracement zone at $95.80.
Between $93.70 and $95.80, investors looking to short LTC may place stop-loss orders just above the weekly resistance at $96.30. Should LTC face rejection here, the price could retest the recent low of $83.31. A decisive close below this support may extend losses toward the next weekly support at $77.19.