Litecoin is facing downward pressure, with indicators pointing towards a potential drop in price to $77.19.
A large Litecoin investor with a wallet holding 100K to 1 million LTC has been selling off significant amounts, increasing selling pressure.
The Open Interest-Weighted Funding Rate for LTC has turned negative, indicating a dominance of short positions and potential price decreases.
Technical analysis shows LTC being rejected at the 50-day EMA, with RSI dropping to 45 and MACD signaling a possible bearish crossover, hinting at further price decline.