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Litecoin Must Maintain $77 Level To Sustain Energy In December

Litecoin

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Litecoin (LTC) is currently experiencing a sharp price correction, down more than 4% in the last hour, according to the latest tracking. Coingecko.

At the time of writing, the cryptocurrency is trading at $75.94 after hovering around the $78 range for most of the day.

With the recent price dump, the altcoin cut its seven-day gain to 20% from this week’s 33%.

Still, LTC’s current performance is impressive as it managed to gain 33.5% in the last 30 days.

Litecoin caught the attention of many crypto-enthusiasts on November 23rd when it started to rise, reaching the $81 mark and increase its market value by more than a billion dollars.

Currently, LTC is ranked 13th in this categoryth Listed by Coingecko, holding a total value of $5.39 billion.

What would it take for LTC to hit a higher level next month

Beating the weekly gains of the likes of Bitcoin and Ethereum, Litecoin positioned itself as one of the cryptoassets experts are keeping an eye on.

In fact, crypto trading expert Rekt Capital shared his thoughts on this terms which LTC needs to fulfill in order to maintain its energy and perform better in December.

“LTC’s reversals have gone as high as $85-$98 before finally turning down there. The price needs to close monthly and hold above $67 to go higher next month,” said the pseudonym. picture.

Rekt Capital also pointed out that since Litecoin has historically been rejected from the higher demand zone, it needs to maintain the $67 price range at the end of November to strengthen its uptrend and test higher price levels.

Analyst Talks About Litecoin’s Momentum

Meanwhile, well-known crypto analyst Altcoin Sherpa also shared his views on what lies ahead for Litecoin after its impressive rise despite the decline that is now engulfing the crypto space.

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

However, that can only happen if the digital asset can continue to rise.

Cryptocurrency data provider Coincodexhowever, may disagree with this bullish altcoin as its predictions are not looking good for Litecoin right now.

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

While Litecoin may have a chance to close out November with a higher trading price than the crucial $67 mark, it looks like​​​​​​​​ that the asset will be on the downside again as the end of 2022 approaches.

LTC total market cap at $5.3 billion on the daily chart | Featured image from Sweden.se, Chart: TradingView.com

Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase

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