Litecoin LTC has been in a deep state of panic ever since the last halving event. While Litecoin LTC price had been falling drastically, traders didn’t lose hope and for a good reason.
Litecoin LTC price hit the $44 mark today but failing to break past the resistance it went down on the hill to as low as $41.80. Since the new weekly low Litecoin price moved back up to the $42.26 mark.
Litecoin price chart by Trading View
Litecoin price movement reveals that the current support level lies at $41.60, and the price movement is facing strong resistance to break-through the $45 threshold.
Litecoin LTC price movement: What to expect?
The support level lies at $41.81 at the time of writing, and the next support level is found at $41.20 while there is strong resistance at $42.40 mark.
On the one hand, Litecoin LTC price movement has been hovering below $50 mark since the 22nd of November. Although the price did get close to the mark at $49.91 on the 29th of November yet it was unable to breakthrough.
Even if the Litecoin LTC price manages to break past the $45 mark, the next major resistance would be at $47 and $49 before hitting the $50 mark again.
While on the other hand, LTC price can drop further down to $41.60 if the current support levels fail to provide the necessary cushion to break through towards $45.
Featured Image by Flickr
Disclaimer: The information provided is not trading advice but rather an informative analysis. Cryptopolitan.com holds no liability towards any investments based on the information provided above.
