Litecoin price analysis and forecast: LTC/USD recovery falls short of $50, levels to watch
|Litecoin (LTC) Price Analysis: LTC/USD bears stop short of SMA50 1-hour
Litecoin (LTC), the sixth-largest digital asset with the current market capitalization of $3.0 billion, has retreated from Wednesday's high of $48.80 to trade marginally above the $47.00 handle. The coin had gained 4.5% on a day-to-day basis and lost 1.2% since the beginning of Thursday. While it managed to recover from the intraday low of $47.00, the upside momentum has yet to gain traction. Read more…
Litecoin Price Analysis: LTC/USD recovery falls short of $50, where to next?
Litecoin has been shredding its value since June highs around $146. The halving event in August did very little to spur growth. Instead, the crypto has continued to shred its value beneath several key support levels including $80, $60 and the recent break below $50.
Following the breakdown $42 level came out as a vital support area, Litecoin bulls took advantage of the low price to get more positions. However, the momentum has not been strong enough to convince the bulls that the reversal is significant. Read more...
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