Litecoin (LTC) is consolidating in a range between $60 and $70.
On Wednesday night, September 6, the LTC exchange rate fell to $62.94.
Bears are trying to bring down the altcoin to $60 or below this psychological mark. Such a scenario will become possible if the support around $60 does not work.
Over the past seven days, the value of litecoin has decreased by about 3.5%. The bulls are ready to join the game only after breaking through the resistance at $70.
According to analysts’ forecasts, in the coming days, lytecoin will trade in a narrow range from $62 to $65.
The cryptocurrency has been in a stagnation phase since the August halving. According to IntoTheBlock, just over 20% of LTC addresses remain profitable on the network.
Nearly 72% of wallets are incurring losses. Nevertheless, the adoption of litecoin continues. Since May 2023, its share of global crypto payments has grown to 21%.
LTC remains an attractive digital asset because of its low transaction fees.
The network, on average, processes 105,770 transactions per day. According to the Bitinfocharts service, this number exceeded 453,000 before the halving.