The Bearish Market is Dragging the Litecoin Down, Swiftly Going Down Toward $90 Mark

 The Bearish Market is Dragging the Litecoin Down, Swiftly Going Down Toward $90 Mark

Meta Data: As predicted Litecoin (LTC) showed a substantial decline today. The overall trends are bearish, and it is expected to go further down.

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Litecoin Price Analysis & Future Forecast-

On June 28, Litecoin price was trading around 117.6 USD. Nevertheless, today, the coin has declined by a huge margin of 22.59%. However, in a week of trading, the digital coin has strengthened by 16.91% from the price of 78.112 USD on July 17.

At present, LTC coin seems to be unpredictable. But we have seen a similar trend for most of the times in the last week. However, the crypto recovered its strength in a couple of days of trading. Litecoin again went to those levels, and one should expect a bounce back soon. According to our analysis, Litecoin might trade around 200 USD by the end of the year. The immediate support for the crypto is at 90.85 USD. Additionally, the resistance for the altcoin is at 99.68 USD.

CHART

The current level of Litecoin may cause a panic among the traders, but there is a room for a huge bounce back, just like the last week. At the current scenario, the short term is bearish. However, the long term is expected to turn out to be a bullish one.

Rebecca Burke

Rebecca Burke is a freelance writer and a Litecoin fanatic. She has over three years of writing experience working in different areas of cryptocurrencies. Rebecca believes in the disrupting power of cryptocurrencies and blockchain technology; hence she's on a mission to help spread the good news about the crypto industry.

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