Litecoin (LTC), imminent collapse to $30?And possibly below $10 after that?
Most if not all Alt-tokens have returned to their 2017 lows with 95% to 98% corrections since 2021. Pick any token popular at that time:
1) DASH.. 95% correction with a return to $25 in 2023 as it was in 2017. Inflation adjusted, the price should be $19! A bucket of expired sardines in a Norwegian Fish-market has gained more value.
2) XLM -90%
3) HBAR -95%
4) ADA -95%
5) NEO -95%
6) ETH -75% (massively bearish still!)
7) SOL -96%
It is everywhere you look, 95% corrections are all over.
Currently Litecoin is at an 85% correction. 95% takes price action to $15. Inflation adjusted, less than $10.
The technical analysis also supports the outlook. On the above 10 day chart:
a) A significant trend-line support has broken (orange line). Over the last 10 years Litecoin has enjoyed a continuous uptrend. The support has now failed AND confirmed. Yes price action could rally to $130-140, the bulls would get excited. Regardless, breaking this confirmed resistance will not be easy.
b) The 2nd bear flag breakout. It has confirmed. A 70% correction from the exit point measures to $28.
c) If support at $28 does not confirm, the next support is just under $10, the full 95% correction like everything else.
Is it possible price action continues sideways? Sure.
Is it probable? No.
Ww
