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Before the crypto market crashed early within the week, Litecoin was maybe one coin that had proven loads of bullish promise. At the time, LTC had completed a 4-week consolidation section, and bulls had managed to hold the $51 support. It was solely a matter of time earlier than the coin rallied. But this week issues have taken a flip for the more serious. Here are among the info:

• LTC misplaced the $51 support because the strain out there took hold

• The coin has nevertheless managed to preserve the worth motion above the following $41 support

• If this continues, LTC might genuinely avert a serious decline within the coming weeks.

Data Source: TradingView 

Litecoin value prediction – Is a pattern reversal coming

Right now, total sentiment and traits within the crypto market level towards main losses. The market is in full bear mode, and commerce quantity has decreased considerably. It’s due to this fact exhausting to see any sustained bullish surroundings. However, there are some positives from an LTC standpoint. 

First, regardless of the huge sell-off reported in crypto this week, LTC losses had been far decrease in contrast to different main cash. Also, the token has managed to stave off the bears at $41. This reveals loads of resilience.

And apart from, LTC has rallied during the last 24 hours with a ten% acquire. These circumstances recommend that LTC will likely be in a position to keep above the $41 support for now. While this may occasionally not set off a decisive bull run within the quick time period, it might restrict further draw back.

How to commerce LTC for now

The draw back threat beneath $41 is big. If LTC had been to lose this support, then we might see a 40 – 50 % drop. 

So, the bottom line is to give the coin just a few days. If bulls are nonetheless in a position to defend $41, then you could possibly purchase for the quick time period.