Litecoin [LTC] bulls have shown signs of weakness near the $60 price range where it has been facing resistance during its recovery phase. However, the cryptocurrency has managed to avoid a sizable retracement by maintaining its momentum above its 50-day moving average. Litecoin has managed to stay above the 50-day moving average for almost 10 […]
bulls have shown signs of weakness near the $60 price range where it has been facing resistance during its recovery phase.
Litecoin has managed to stay above the 50-day moving average for almost 10 days. At press time, the token stood at $59.85 up by 1.39% from the day’s opening price. In contrast, the period from 25 July to 26 July was characterized by a small increase in dormant circulation from 7,520 LTC to 16,239.However, this time, the amount moved was little as compared to last week. But, it was enough to produce an uptick.Nevertheless, the outcome was that of a restricted upside since the selling pressure summoned the bears. And, the resulting downside has been rather limited.
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