Litecoin (LTC) Experiencing a Stormy Rise and Fall Amid Altcoin Market Slump

Litecoin News Today – Litecoin (LTC) is a decentralized money free from censorship and open to all. It is a platform where you can send low cost and secure payments to anyone at any time just like Bitcoin. Litecoin is blockchain secure, it has the largest global crypto-based network, operating with 100% uptime since 2011 securing and try casting billions of dollars in value. Litecoin, in the past 24 hours, has declined drastically but it is gradually picking up. The drop was conventional as many expected it to continue that way. The decline would be expected to go on as experts are on the lookout to see the beginning of another rise as the recovery process is still ongoing. In the Litecoin price prediction today, the digital silver is trying to recover from bearish pressure.

Litecoin Price Prediction – Litecoin Latest Update – Litecoin News Today – Litecoin Price Analysis

Other declines could be detected to the $85 support zone before the second rush comes to an end.

After the realization of the present retracement, another upward shift would be envisaged as the third rush out of the beginning upward wave is to evolve. If the price revival gets terminated out at the $122 even level on the three-wave shift, then it is plausible to have an extra restorative formation to the upside after another impetuous collapse.

But if the price is able to spontaneously plunge the price above the $122 pitch and stay there on the next retracement, then it would more likely mean that we are experiencing a persistent increase.

Litecoin (LTC) Price Today – LTC / USD

NamePrice
litecoin
Litecoin
$52.37-4.60%

If the price does not rise above the $122 parallel region and the declining there plunge it back below $100 the feasibility of an additional decline would rise.However, if the price starts moving spontaneously over the level and obtain aid at the $122 zone on the next retracement, we would likely be seeing the uptrend unabating.

Litecoin Price Prediction – Litecoin News Today – Litecoin Price Analysis – Possible Increase and Decrease of LTC

Statistics from yesterday’s rise at $100.6, the price of Litecoin has declined by 9.73% as it dropped to $90.32 which is being traded with today, this is the lowest point it has gotten today.

Some provisional aid is established as the price decline has been brought to an end for now. Though there is yet to be a result to show if this aid is surviving its purpose, which is to reverse, or will the decline continue?

On the hourly chart, it can be seen that the price to rerun the even opposition point on yesterday’s increase suffered rejection. This brought about the split that appeared beneath the which is why a breakout occurred below the lower soaring trend line.

This slight split shows that the first-wave growth finished with the price discovered. Looking at the second wave out of the higher degree five-wave shift, it plausible it continues its downward bearing to the aid zone at $85-83 so as to set up a firm aid ahead of a spontaneous shift that might happen.

Preceding the five-wave repossession, we’ve seen a knotty WXYXZ correction closing from the yearly rise at $144 which is a decline of 44.62%. If this adjustment was an additional retracement in the uptrend from the 15th of December, the now seen five-wave retrieval could be the beginning of the next spontaneity wave as the uptrend continues.

However, more likely we have seen the fruition of the buoyant phase from 15th of December as the 5th wave of the slight degree ended at $144 pitch. If this is accurate, then we are now seeing the elevated degree adjustment to the downside out of which the complicated one would be its first wave.

That would make the revival seen from last Wednesday the restorative upside wave before the price starts falling suddenly to the downside. In that case, the rise now is forecasted to be the five-wave move, it would stop as a strong three-wave move as an interface with the $122 level.

What do you think? Will the price of Litecoin rise or fall against the USD near-term?

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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