LTC short sellers can watch out for a bounce to this resistance level
The mean coin age of LTC has been climbing higher since late June. Even after the recent losses in the price, this metric continued to climb higher, which signaled a network-wide accumulation of Litecoin.
Litecoin did not show signs of a bounce in prices yet, even on the lower timeframes
The imbalance to the north would present a good risk-to-reward short-selling opportunity for LTC traders
Litecoin [LTC] saw an increase in accumulation on-chain. Yet, the price chart showed that there was a downtrend in progress on the higher timeframe. After the halving, the price fell past multiple support levels.
The inability of the buyers to defend these demand zones signaled bears were dominant. Over the coming week, it was likely that further losses could ensue for Litecoin. Where can traders look to enter positions.