LTC Faces Bearish Pressure as Dead-Cat Bounce Pattern Emerges

Litecoin (LTC) is currently exhibiting a classic dead-cat bounce pattern as it approaches a key resistance level, signaling potential further declines. Traders are eyeing short positions between $93 and $95, supported by on-chain data indicating heightened profit-taking activity among LTC holders. The Network Realized Profit/Loss metric from Santiment shows this activity at its highest level in two months, reinforcing the bearish outlook. Additionally, the Age Consumed index further substantiates the downward pressure. As of now, LTC is trading at 89.98000000 USDT. This development suggests caution for investors, as the cryptocurrency may face continued volatility in the near term.

Litecoin Faces Double-Digit Decline as Dead-Cat Bounce Pattern Emerges

Litecoin’s price action is forming a classic dead-cat bounce pattern as it approaches a key resistance level. Traders eyeing short positions may find entry points between $93 and $95, with on-chain data reinforcing the bearish outlook. Profit-taking activity among LTC holders has surged to its highest level in two months, according to Santiment’s Network Realized Profit/Loss metric.

The Age Consumed index further supports the downward trajectory, indicating dormant tokens are being moved. This aligns with the technical thesis of a resumed downtrend, as selling pressure mounts from both active traders and long-term holders capitalizing on recent gains.

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