LTC price has fallen over 8% the last week
LTC Price has formed a symmetrical triangle
200MA is acting as support
Litecoin (LTC) price has been a laggard over the last month as it has still failed to regain the consolidation zone of late May / early June. LTC has revived nearly 22% of its entire downtrend from its high of $415 in May. Considering the total crypto market cap has revived nearly 65% of its entire downtrend, we can say LTC is severely lacking behind.
Many are asking why this is happening but we can assume it’s likely because of the lack of developments & hype surrounding the LTC blockchain. If BTC breaks to the upside over the next week, we should expect LTC to show some movement as well.
Ever since the 10th of August, LTC price has been holding above its major support zone of $161-$166. Over the last few weeks, price has been consolidating as it attempts to break above its major resistance zone. This price action has formed a symmetrical triangle pattern which say
