Litecoin price analysis 5 July 2019; Is LTC healthy under $130? Data says yes

Litecoin may not be in the best of shapes right now due to the overall market sentiment that we’ve been going through the last 24 hours.

Most of the major altcoins are trading below their potential due to a severe fall in trading volumes, but thankfully the explanation is quite simple.

Litecoin’s main trader base is in the United States, which could explain why trading volumes plummeted today and yesterday as the land of red, white and blue was having an independence day.

Due to the trading volume plummet LTC is now struggling at the $119 price level and is trying to somehow reach the newly formed $120 resistance.

LTC price chart

LTC chart by Trading View

When it comes to partnerships and overall LTC adaptation, the Litecoin Foundation has not left us wanting for more. the company has made plans for making a debit card, is going to hold a halving in August and is now talking with Flexa about a potential partnership in the future.

Everything the Litecoin Foundation is doing right now should be causing a serious bullish sentiment but Bitcoin’s market dominance is simply too strong to break.

Be it a bullish or a bearish dominance, BTC is still the king of the market at this point.

The traders are still anticipating a BTC correction in the future and the initiation of the altcoin season sometime in August or early September, but there are no clear signs about that quite yet.