Litecoin Gains Analyst Attention Amid Price Support Levels
- Price Support Levels: Litecoin's price has returned to historically significant support zones, and while its short-term performance remains weak, several key indicators suggest it is approaching levels historically associated with accumulation, potentially attracting long-term investors.
- Fibonacci Model Analysis: According to analyst Alphractal, Litecoin has touched the lower band of the Fibonacci Adjusted Market Mean Price model, indicating it has entered a cyclical sweet spot where historically, this area has drawn significant investor interest.
- Large Holder Accumulation: Data from Santiment reveals that the number of wallets holding at least 10,000 LTC has increased by 7% over the past five months, suggesting that this accumulation could signal an upcoming trend reversal despite flat price performance.
- LitVM Project Buzz: Much of the recent social media discussion around Litecoin centers on the LitVM initiative, which aims to introduce smart contract functionality to the Litecoin blockchain; while there is debate about its potential to create lasting demand, the project remains a hot topic among investors.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0115 | 0.0207 | 0.0298 | 0.0391 | 0.0482 | 0.0575 | 0.0666 |
| Fibonacci | 0.0207 | 0.0277 | 0.0321 | 0.0391 | 0.0461 | 0.0504 | 0.0575 |
About MAJOR
About the author
