LTC is currently at spot #7 in terms of total market capitalization.
At the time of writing, LTC price is currently sitting at $57, unchanged from yesterday's analysis, but it DID witness some movement.
As we mentioned, LTC was behaving in a slightly different way to its siblings, in that over the past week it has not established one clear resistance level that it has failed to break. Over the past few days, it has formed a dynamic uptrend, yet it has managed to break above $58 and close above it on the hourly chart. We had potentially established $58 as the resistance level to watch, but $59 would have been more accurate to be honest.
Since then LTC showed some strength as it broke above, yet similar to its siblings, faced resistance at $62 and retraced lower and actually broke below the uptrend. On the upside, we'd be looking to see if LTC can gather enough momentum to break through $59 again and then retest the $62 resistance for a break higher to $65. On the downside, we'd monitor to see if it can hold the $54 support.
On the daily chart for LTC, technical indicators give a bleak bearish outlook (16 sell, 10 neutral, 0 buy)
On the weekly chart for LTC, technical indicators give a slightly better but still bearish outlook (14 sell, 8 neutral, 4 buy)
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