The post LTC Price Analysis: Bearish Waves Warns Litecoin Under $60? appeared first on Coinpedia Fintech News
The continuous downtrend for Litecoin and multiple altcoins in 2023 projects a strong resistance trendline. Leading to a streak of lower highs, the LTC price finally forms a solid footing close to $60, teasing a bounce back to reclaim trend control.
Therefore, despite the strong resistance trendline, the LTC price prediction holds a bullish torch in the coming months.
Taking a sideways stroll between the crucial levels of $60 and $72, the LTC price action reflects strong bearish pressure. Furthermore, the declining trend of the 50-day EMA rejects multiple breakout possibilities, leading to further delay.
With multiple failed attempts to rise and sustain above $72, the lower high formation finally starts within the sideways stroll. The recent long-wick candle taking rejection from the 50-day EMA marks a new negative cycle.
The LTC price is currently trading at $60.77 with
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