Litecoin Faces Price Drop Amidst Trade Wars

# Market analysis

# Litecoin

# Litecoin - LTC

Litecoin Faces Price Drop Amidst Trade Wars

Litecoin experienced a significant price drop to $94, a 26% decrease from the weekly open, attributed to ongoing trade tensions. Despite this, analysts see potential in Litecoin due to its resilience and positive social commentary. In February, LTC outperformed BTC, maintaining breakeven value while Bitcoin faced an 18% decline. Santiment data revealed a rise in LTC active addresses to 445,000. Valeriya, a crypto trader, noted signs of reaccumulation in Litecoin. Technically, Litecoin trades within a consolidation range of $130 to $140, staying above the 200-day EMA since Nov. 6, 2024. Immediate support levels are at $92 to $100 and $80 to $88. RSI dropped to 38, the lowest since Aug. 8, 2024. Onchain data from IntoTheBlock showed significant LTC holdings in the $79 to $90 range. Investors should conduct their own research before making any investment decisions.