Litecoin Rejection at $134 — Watch $120 Support
I see Litecoin rejected near $134 and now trading around $121.71 after a 7.33% drop, which tests the crucial $120 support that underpinned the August rally driven by whale accumulation.
Short-term momentum has weakened; failure to hold above $120 would expose lower supports, while a clear reclaim of $134–$140 is needed to validate continuation of the uptrend.
I'm monitoring volume and whale activity for confirmation and remain cautious until price shows sustained support above $120 or convincingly retakes $134.
Analysis
Rejection at $134 after strong whale-driven gains signals short-term exhaustion; holding $120 is key for bullish case, while a breakdown would likely accelerate selling and invalidate recent momentum.
Recommendation
Watch price action—avoid new longs until Litecoin holds above $120 or retakes $134 with conviction; use tight risk controls and consider trimming positions if $120 fails.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.