Litecoin long-term Price Analysis: 05 December

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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.



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.