- Grayscale Investments has quietly scooped up 178,691 Litecoin within the final 30 days
- This interprets to roughly $28.9 million in Litecoin
- Gene Simmons has brazenly declared that he’s ‘a cheerful Litecoin investor’
- The 50 day MA supplies LTC with help at present ranges of $160
- The month-to-month shut tonight may ship the worth decrease to the $150 – $145 worth space
The Wall Road funding agency of Grayscale has quietly accrued 178,691 Litecoin within the final 30 days. This quantity of LTC has a worth of roughly $28.9 Million utilizing Litecoin’s present worth of $162. The 30-day accumulation of Litecoin by Grayscale has been highlighted within the following screenshot courtesy of Bybt.com.
I’m Additionally a Blissful Investor in Litecoin – Gene Simmons
The buildup of Litecoin shouldn’t be remoted to establishments reminiscent of Grayscale. Earlier this week, the frontman of the favored band referred to as Kiss, Gene Simmons, took to Twitter to announce that he was ‘a cheerful investor in Litecoin’. Mr. Simmons went on to advocate that buyers do their very own analysis on LTC as seen by means of the next tweet.
— Gene Simmons (@genesimmons) February 21, 2021
Litecoin May Be Headed Decrease With the Weekly/Month-to-month Shut
A fast look on the charts reveals that Litecoin has additionally been onerous hit by the continuing crypto market selloff that has seen Bitcoin retest the $44k price area. On the time of writing, Litecoin is buying and selling at $162 which additionally occurs to be an important help space as seen within the following every day LTC/USDT chart.
The above LTC/USDT chart additionally supplies the next info on Litecoin’s doable worth motion into the brand new month of March.
- The 50-day shifting common supplies help at present ranges of $160
- The every day MACD, MFI and RSI level in direction of an ongoing correction for Litecoin
- Commerce quantity is within the pink with the every day Heiken Ashi candles additionally within the pink, thus confirming continuous promoting
- The $150 – $145 worth space is the subsequent help zone ought to the present one be damaged
- The 100-day and 200-day MA’s present macro help areas at $140 and $95 respectively
- Chances are high that volatility downwards will enhance with the weekly/month-to-month shut later right now