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Litecoin Price Prediction - Will we drop to $60?

 


In our last Litecoin price prediction , we wrote about how the price could rally to $230 as we got to the bottom of a sideways movement. The $230 would be a logical progression from this pattern. Then there was a crash in the entire crypto market, which is why the Litecoin price fell a little further than expected. The price is now around $108 and has found support at the psychological $100 mark. But how could the Litecoin course continue? We'll enlighten you.


In the last 365 days, Litecoin price has not seen a weekly close below the $113 – $129 support zone. Since the weekly candle will close in a few hours, to be precise in 3:15 (as of 21:45), we are rather bearish and do not expect a move above or into the support area. Due to this, the weekly candle will close below the support, symbolizing a breakout from the sideways phase. Since we broke out of a formation, we expect prices lower than $100. Thus also that the course leaves the psychological mark of $100 to the bears.


We expect Litecoin price to drop to at least $80 as that is where the next support is. After that, the price could correct somewhat higher to continue the descent. We see the final target of the correction at around $60. That's where the next support is, after the $80.

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