Litecoin [LTC] investors must know that chances of capitulation are…

ambcrypto.com:

Litecoin [LTC] investors are still uncertain about their fate especially after starting their week on a low, courtesy of last week’s bearish performance. This is despite a bit of recovery but LTC’s short-term fate is still up in the air.

Litecoin’s pullback of last week triggered a retest of its ascending support line. The latter is part of the cryptocurrency’s price channel for the last eight weeks. It has already retested the same support multiple times in the past, but this time it is showing signs of weakness.

Source: TradingView

LTC managed to push below the support line at the peak of its crash on 19 August. It has since then, managed to trade along the same line, but the price has notably lost its strength and ability to stay above the line.

Litecoin’s press time price level ($55) suggested that investors are unsure of the next move. For example, addresses holding more than one million tokens retained stable balances in the last 24 hours. This confirms that they are waiting to see where the market will lean, before making the next move.

Source: Santiment

Meanwhile, addresses holding between 1,000 and 100,000 LTC registered some outflows in the last two days. This same category of addresses quickly accumulated at the recent bottom before cashing out some profits.

Although LTC has not managed to bounce off the support level, it registered a significant increase in on-chain volume since 21 August.

This might be a sign that the retail market has been accumulating heavily at the support line. However, retail traders have the least impact on the market and that would explain the limited upside. They also provide exit liquidity for short-term profiteers.

Source: Santiment

The support line may have acted as an entry point for new