$LTC Recent analyses indicate a bearish trend for LTC:

Price Rejection at $130: Attempts to surpass the $130 resistance level have been unsuccessful, leading to downward pressure.

Descending Parallel Channel: Since reaching a cycle high of $147.06 on December 5, 2024, LTC has been trading within a descending parallel channel, suggesting a continuation of the bearish trend.

However, some factors may counteract this bearish outlook:

Institutional Interest: The U.S. Securities and Exchange Commission's acknowledgment of a spot ETF filing for CoinShares Litecoin ETF has sparked bullish sentiment among investors.

Whale Accumulation: Significant accumulation by large holders indicates potential confidence in LTC's future performance.

In summary, while current technical indicators point toward a bearish trend for Litecoin, increased institutional interest and whale accumulation may influence its trajectory. Investors should closely monitor these developments and consider their risk tolerance before making decisions.