Litecoin (LTC) Trades Below $80 Amidst Increased Activity

Today's analysis examines the recent price action and on-chain activity of Litecoin (LTC) to understand its underlying trends and potential future mid-term movements. As Bitcoin struggles to break the $61K price level, pressure on LTC has led it to trade below the critical $80 support level. The $80.37 level, near the $80 mark, aligns with the 0.618 Fibonacci retracement level and is crucial mid-term support. Traders should wait for the price to drop below $75 before buying, with an ideal buy range of around $70-$72 for an optimal entry position.