The Relative Strength Index faced rejection at the mid-point and moved sideways. It shows buying pressure gained traction at midpoint, but stagnated afterwards.
As such, bulls had the upper hand in the current market structure. They could push LTC towards the overhead resistance at $91.34, especially ifAlternatively, bears could block bulls’ efforts and force LTC to retest or break below the immediate support level at $82.44. The drop could be held by the $80.09 level , but would invalidate the bullish forecast above.According to Santiment, LTC’s active addresses dropped on 18 January, followed by small spikes afterwards.
Short-term holders also recorded a profit drop as the 30-day MVRV ratio fell close to the neutral line. In fact, short-term holders made zero profits on 18 January after a sharp price decline. Regardless, at press time, there were a small percentage of gains were recorded.
Source: News Formal (newsformal.com)
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