- Litecoin price is set to embark on a bull run
- Litecoin price could dip before rising
- Litecoin’s next price action might make the market direction clearer
Litecoin news today – As the bulk of the gains posted across the digital asset market in the past few days fizzles out, the top 10 digital assets are reporting only minor losses. The market is still highly volatile. As of when this content was written, the price of Litecoin was down by 0.18% in the last 24 hours of trade. It is currently changing hands at $39.36. Now some analysts have made their opinion of Litecoin’s next direction known. We will take the predictions issued by different analysts. One of the analysts believes that the price of LTC will soon initiate a bull run, but it will decline before the bulls can return.
Litecoin (LTC) Price Today – LTC / USD
Litecoin Price Will Dip Before Surging
Litecoin News Today – While the bulk of the market is reporting minor drops, crypto analyst Project Syndicate is bullish on Litecoin’s short-term future. He feels Litecoin has taken the path of Bitcoin, meaning the mid-term pattern may have formed already setting Litecoin price up for good gains in the medium-term. Project Syndicate thinks we will see positive price movements before we experience a pullback. Considering Litecoin’s correlation with BTC, look for a confluence between both. The digital currency trader recommends that we stay ready to buy after prices cross the $40 mark. As stated above, most of the gains accumulated in the market in the last few days have largely fizzled out. Via the hourly chart for LTC/USD, another trader who goes by the moniker Bixley has cited an ascending scallop.
Litecoin’s Next Movement Might Offer Clarity to the Market
As traders look for patterns in the current market, many have turned to altcoins with lower liquidity and those traded by experienced players. According to analyst Benjamin Blunt the price of Litecoin may see a major drop. Should this prediction come to pass, and Litecoin drops to the low $20’s, the price of Bitcoin may soon follow this part. Litecoin’s relationship with Bitcoin has been on from the early days. The market action between both coins has seen them frequently work in tandem. Litecoin’s price action can often be used to predict that of Bitcoin. As is the case with the rest of the market, the price of Litecoin has swung wildly in the last several days. The coin’s value is down by 2% in the last 24-hours. This drop is understandable, as holders are selling to enjoy the rewards of their gains form past days.