, a prominent cryptocurrency often referred to as"the silver to Bitcoin's gold," has recently experienced a significant surge in whale transactions. With an increase of 111%, this spike in large transactions could be tied to the upcoming release of LTC-20, a major update to the Litecoin ecosystem.
The recent surge in Litecoin whale transactions may be a result of investors anticipating the launch of the LTC-20 standard and positioning themselves to benefit from any potential price appreciation following the update. As the cryptocurrency market often experiences price fluctuations due to news and developments, this increase in whale activity could be indicative of heightened market interest in the upcoming LTC-20 release.
The H&S pattern is a technical analysis tool used by traders to identify potential trend reversals in the market. The pattern consists of three peaks, with the middle peak being higher than the two adjacent peaks . The neckline, which connects the low points of the two troughs on either side of the head, acts as a support level. A break below the neckline typically signals the completion of the pattern and the beginning of a new downtrend.
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Source: Forbes - 🏆 394. / 53 Read more »