LTC (Litecoin) fell 6.35% in the last 24 hours

Gate News Bot message, on November 21, according to CoinMarketCap data, as of the time of writing, LTC (Litecoin) is currently priced at $87.04, a fall of 6.35% in the last 24 hours, with a high of $109.06 and a low of $86.13. The 24-hour volume has reached $705 million. The current market capitalization is approximately $6.662 billion, a decrease of about $452 million compared to yesterday. LTC is currently ranked 18th in global Crypto Assets market capitalization.

Important news about LTC recently:

1️⃣ Large investors reopen LTC long positions A well-known large investor has recently opened a long position on LTC again. This investor purchased 11,071.24 LTC at an average price of $88.8, with a total value of approximately $9.81 million. This move shows that some institutional investors are optimistic about the short-term upward potential of LTC, which may inject some confidence into the market.

2️⃣ Trump family-related companies venture into LTC mining Thumzup Media Corporation, a social media company associated with Trump's eldest son, announced the acquisition of the Litecoin mining company Dogehash, making it a wholly-owned subsidiary. This strategic move not only expands Thumzup's presence in the Crypto Assets field but may also bring more attention and potential mining support to LTC.

3️⃣ Market sentiment is becoming cautious, LTC price continues to fall The price of LTC has continued to fall in the past few days, dropping from $96.39 on November 17 to the current $87.04, with a cumulative decline of approximately 9.7%. Although the decline has widened, the volume has decreased compared to earlier periods, falling from $872 million on November 18 to the current $705 million, indicating a reduction in market participation.

From a technical perspective, the LTC price has fallen below the support level of $90 and is currently fluctuating in the range of $85-$90. In the short term, $85 may become a key support level. On the fundamental side, despite some positive developments, such as the entry of large investors and the expansion of mining, overall market sentiment remains cautious. Investors should closely monitor market trends, especially the potential impact of macroeconomic factors on the crypto assets market.

This message is not intended as investment advice; investors should be aware of market volatility risks.