Litecoin (LTC) is holding steady around $85 on Thursday after gaining 6% earlier this week. However, on-chain data reveals early bearish signs as profit-taking among holders hits a three-month high and dormant wallets show increased activity, suggesting mounting selling pressure. Additionally, a notable whale recently offloaded 340,000 LTC tokens, indicating a bearish outlook.
Key Bearish Indicators for LTC
LTC started the week strong, climbing nearly 6% on Monday following the Iran-Israel ceasefire announcement, which boosted risk appetite. The price then consolidated near $85 for the following two days and remains around this level.
Last week, Litecoin declined 7% and retested its weekly support at $77.19 on Sunday before recovering most losses on Monday. As of Thursday, LTC continues to stabilize near $85.
Price Outlook: Potential Decline AheadIf LTC fails to break above the 50% retracement level at $91.61, a correction could push the price back toward its weekly support at $77.19. The Relative Strength Index (RSI) remains below the neutral 50 mark, signaling bearish momentum and a possible continuation of the downward trend.
June 2025, Cryptoniteuae
