Earlier than the crypto market crashed early within the week, Litecoin was maybe one coin that had proven loads of bullish promise. On the time, LTC had completed a 4-week consolidation section, and bulls had managed to carry the $51 help. It was solely a matter of time earlier than the coin rallied. However this week issues have taken a flip for the more severe. Listed below are a number of the info:
LTC misplaced the $51 help because the stress out there took maintain
The coin has nonetheless managed to maintain the worth motion above the subsequent $41 help
If this continues, LTC may genuinely avert a serious decline within the coming weeks.
Information Supply: TradingView
Litecoin worth prediction – Is a development reversal coming
Proper now, total sentiment and traits within the crypto market level towards main losses. The market is in full bear mode, and commerce quantity has decreased considerably. It’s subsequently laborious to see any sustained bullish atmosphere. Nevertheless, there are some positives from an LTC viewpoint.
First, regardless of the large sell-off reported in crypto this week, LTC losses have been far decrease in comparison with different main cash. Additionally, the token has managed to stave off the bears at $41. This exhibits loads of resilience.
And in addition to, LTC has rallied over the past 24 hours with a ten% acquire. These circumstances counsel that LTC will have the ability to keep above the $41 help for now. Whereas this may occasionally not set off a decisive bull run within the quick time period, it may restrict additional draw back.
Tips on how to commerce LTC for now
The draw back threat under $41 is large. If LTC have been to lose this help, then we may see a 40 – 50 % drop.
So, the secret’s to present the coin a number of days. If bulls are nonetheless capable of defend $41, then you can purchase for the quick time period.