However, the sharp fall in the price of BTC significantly adjusted the plans. As a result, the LTC price broke the bottom trend line of the channel in which it traded from December 11. The main buyer support was in the range of $148-153. At the moment, this range is under the control of sellers. If buyers fail to regain control of this range in the near future - this will be a serious signal to sellers to continue to fall actively.
The main target of this scenario is $100.
Another signal for the continued decline in the LTC market will be the continued decline in the price of BTC and breaking the $33,000 mark.
Consolidating the LTC price above $153 will give buyers a chance to test the $173-180 range. We will closely monitor the movement of the LTC price and update the idea when the price chooses its scenario.
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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However, all depends on BTC movement.
Nice LT prospects though.