🚨 $LTC obvious downtrend, no doubt about it.
Volume on those recent 1-hour candles spikes up big time during the drops, like that 779k hit at around 73.91 USDT. That screams real selling pressure from the crowd jumping in on the declines.
On the capital side, we've got steady outflows over the last 24 hours—negative 80.15M USDT in contracts and another 31.20M in spot markets. Feels like the big players are distributing and getting out. Sure, there's some short-term money trickling in on the 15-min and 30-min frames, but it's not enough to flip this thing around anytime soon.
So, wrapping up my thoughts: I'm leaning towards a cautious short here, but keep your risk in check tigh
Entry short $LTC : Jump in right away if it rejects around 72.5-73.0, which lines up with the lower Bollinger band acting as resistance. Or, if you're patient, hold off for a pullback to 75.0-75.5 where the MA5 and MA10 are hanging out—that could give you a sweeter risk-reward setup.
Set your stop loss about 3% above your entry point (say, 74.6 if you enter at 72.5),
Aiming $LTC for 68.8 as the first target, that's support level. If we smash through that, next stop might be 65.6 at next support
What do you guys think—anyone seeing a bounce soon? #LTC #LTCUSDT #Litecoin