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#BTC #LTC #LITECOIN #PRICE #UPDATE
Litecoin Price Set for a Comeback: Key Factors Driving Its Rebound👇
Can Litecoin Price 3-Month Support Hold?
Litecoin could easily be headed for another retest of its 3-month support near the $97 price zone. It has so far demonstrated strong support within this level.
A dip below this key support could signal further demand erosion and pave the way for more potential downside.
Speaking of downside, LTC spot flows pushed back into the red by $6.59 million in the last 24 hours.
The situation as similar in the derivatives segment where open interest was down by 2.91% to $466.58 million in the last 24 hours.
Derivatives volume also cooled down by 1.73% to 1.15 billion during the same time.
The observations in the spot and derivatives segment confirm that Litecoin is struggling to gain bullish traction.
This reflects the overall market sentiment which has been leaning towards uncertainty despite the sizable discount.