Litecoin long-term Price Analysis: 05 December
The cryptocurrency market has not lost ground and many altcoins like, Bitcoin have been holding on to a higher value than a month back. Litecoin, the digital silver has also noted a significant rise in its value and was currently trading at $82.49. The price has been noting an upward push, but it could not be seen as a lasting trend in the long-term market.
Traders, be ready with your short positions.
(https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2020/12/05195415/LTC-2.png)
According to the above chart, Litecoin’s price broke out of a descending channel and started to surge. Although the price was recovering from the fall noted within a descending channel, the price was prime to witness a fall given that the evident trend was a bearish one. It has been approaching resistance at $85 but has not been able to reach it yet.
Learn more about the analysis here. (https://eng.ambcrypto.com/litecoin-long-term-price-analysis-05-december/)