#ltc
A net exit of Litecoin from major exchanges to cold wallets has been observed, reinforcing the "exchange drying" scenario to reduce resistance when pushing the price for a sharp decline.
There are no signals of "institutional accumulation" below the $70 level; as buy orders in this area are very weak compared to the sell wall centered at the pivot level of $102.1.
The wallets that sold at the $80 levels are still holding liquidity as dollars within the exchanges, waiting for much lower entry levels, indicating no intention to raise the price currently.
The apparent goal of price stability: maintaining Litecoin around $78.35 is an attempt to absorb the remaining buy orders before starting the "liquidation mission" towards the $40 and $30 areas.
However, there is a possibility of a strategic false rebound.
