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Litecoin Price Risks Downturn After Whale Moves Millions in LTC

  • 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.

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