Crypto NewsLitecoin (LTC)

Litecoin (LTC) needs to hold the $77 level to sustain December enthusiasm

Litecoin (LTC) It is currently undergoing a sharp price correction, which has fallen by more than 4% in the last hour, according to the latest records coingecko.

At the time of writing, the crypto asset is trading at $75.94 after hovering around the $78 region for most of the day.

With its recent price dump, the altcoin pared its seven-day gains to 20% from a peak of 33% this week.

Still, LTC’s recent performance is impressive as it is up 33.5% over the past 30 days.

Litecoin caught the attention of many crypto enthusiasts on November 23 when it experienced an uptrend that allowed it to reach the $81 mark his market capitalization raise by more than $1 billion.

LTC is currently ranked 13th in this categoryth in Coingecko’s list with an overall valuation of $5.39 billion.

What it will take for LTC to hit higher levels next month

By defeating people like Bitcoin and Ethereum In terms of weekly gains, Litecoin has positioned itself to be among the crypto assets pundits are keeping an eye on.

In fact, crypto trading expert Rekt Capital shared his thoughts on the conditions that must be met by LTC in order to maintain its energy and perform better in December.

“LTC up wicks rallied to the $85-$98 range before finally declining there. Price must close monthly and sustain above $67 to surge higher next month,” the pseudonymous crypto said Number.

Rekt Capital also noted that given that Litecoin has historically been rejected by the higher demand region, Litecoin needs to hold the $67 price area at the end of November for its uptrend to be confirmed and higher price levels to be tested .

Analyst upbeat on momentum for Litecoin

Meanwhile, well-known crypto analyst Altcoin Sherpa also shared what’s in store for Litecoin after its impressive run despite the bearish market now engulfing the crypto space.

It noted that after LTC successfully flipped its 200-day exponential moving average, there is no doubt that the next stop for the crypto-asset is the $100 area.

However, that could only happen if the digital asset can continue its uptrend.

Cryptocurrency Data Provider coin codexhowever, may have to contradict this optimistic sentiment for the altcoin as its forecasts for Litecoin are not looking good right now.

According to his forecast, LTC will trade at $74.60 in five days and in a month the asset will change hands at $62.04.

Although Litecoin may have a chance to end November trading higher than the crucial $67 mark, it seems like the asset will see another slide before the end of 2022.

Litecoin (LTC) needs to hold the $77 level to sustain December enthusiasm, Crypto Trading News

LTC Total Market Cap at $5.3 Billion on the Daily Chart | Featured image from Sweden.se, chart: TradingView.com

Source: Crypto News Deutsch

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