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Litecoin falls below $90 and short sellers can smell opportunity here
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Litecoin fell beneath a range it traded within since early February. In doing so it shifted the bias strongly in favor of the bears.
The strong drop highlighted immense selling pressure a few days ago, and the volume was also enormous.Read Litecoin’s [LTC] Price Prediction 2023-24This happened at the same time when Bitcoin fell from $23.5k to $22k on Friday, 3 March.
While BTC had some bullish hope, Litecoin showed further losses can be expected.Source: LTC/USDT on TradingViewLitecoin dropped dramatically from $95.4 to $88.8 within the space of a single 4-hour candle.
The session closed below the range lows at $90.5 but was still within the bullish order block in that zone, highlighted in cyan.This drop highlighted two things.
Read more on ambcrypto.comAbout this in other media
Credit Suisse short-sellers book $430m in profit fnlondon.com /2 months ago
Crypto Price Today Live: Bitcoin falls below $24,600; Dogecoin, Shiba Inu slip up to 7% economictimes.indiatimes.com /2 months ago
Short-sellers eye First Republic Bank, Western Alliance as SVB fallout spreads fnlondon.com /2 months ago
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