Price predictions 2/6: BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH, HYPE, XMR

💡 DMK Insight

LTC’s recent surge to $54.70 raises questions about sustainability amid broader market volatility. While the double-digit rebounds in Bitcoin and altcoins suggest a temporary relief, traders should be cautious. The potential for a dead cat bounce looms large, especially if resistance levels aren’t convincingly broken. For LTC, watch the $56 mark; a solid close above could signal a more sustained rally. However, if it falters, a retest of support around $50 might be on the table. Keep an eye on trading volumes—if they drop off during this rally, it could indicate a lack of conviction among buyers. The flip side is that if institutional interest picks up, we could see a shift in momentum. But right now, the market sentiment is fragile, and any negative news could trigger another sell-off. So, monitor the broader crypto sentiment and macroeconomic indicators closely, as they could dictate the next moves.