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Litecoin LTC price is going bullish; would it hit $45 again?

Litecoin LTC price is going bullish would it hit again

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.

LTC price chart - 30 December 2019

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.

LTC price chart 2 - 31 december 2019Litecoin price chart by Trading View

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.

Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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