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Date:
28th Dec 2020
Author:
CryptoAltum Research Team

Litecoin Charts Point to Bulls, Will LTC Rally to $360?


From candlestick arrangements, the Litecoin price can easily print new 2020 highs before tripling back to $360—the coin's all-time high, according to one technical analyst. Pointing out to the double bottoms pattern in the weekly chart, he says LTC bulls have the upper hand could incoming price changes can change the fortune of bulls.


Details: 

The LTC price has more than doubled in the last three months. After crumbling to $20 in the depth of the bear market of 2018, prices are now recovering, fanning buyers aiming for a rally back to $360. Propping their optimism is support from PayPal, continuous improvement—including atomic swapping with Bitcoin, privacy features through MimbleWimble and adoption by Atari who are taking advantage of the network's low transaction fees. Coupled with LTC's direct correlation with Bitcoin, the path of least resistance in the medium term is to the upside.


Impact on the LTC Price: 

Bullish. Projections that the LTC/USD price might reach $360, tripling from spot rates, is a shot in the arm for buyers who are already more than 6X from 2018 pits.


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