Litecoin Price Prediction as LTC Falls to $80 Level – Here are the Key Levels to Watch Now
The Litecoin price has dipped by 0.5% in the past 24 hours, with the altcoin's fall to $82.98 also representing a 14% fall in the last 30 days.
LTC's troubles come in the wake of last week's halving, which has failed to set alight the cryptocurrency market, and which seems to have been a classic example of a 'sell the news' event in crypto.
And given the coin's disappointing performance in the wake of this event, it's possible that LTC may fall a little further before it recovers again, although it is showing some signs of growth that may pay dividends in the not-too distant future.
LTC's indicators continue to show weakness at the moment, undermining any suggestion that it could see a big bounce anytime soon.
Its relative strength index (purple) has failed to crack the 50 level, and is actually sliding downwards slightly, signalling a further loss of buying interest and momentum.
Likewise, LTC's 30-day moving average (yellow) has stopped falling relative to its longer term 200-day average (blue), yet it looks like it's flatlining, with its failure to climb upwards suggesting that we won't see a major surge in the near future.
It should also be pointed out that the altcoin's support level (green) has fallen consistently since the middle of July, and while its floor seems to have stabilized in the past week, it would be unwise to rule out any further dips in the coming days.
And the thing with Litecoin is that, even with its status as the 14th biggest cryptocurrency in the market (in terms of market cap), there's nothing really fundamental on its horizon that it could lift its price.
As mentioned above, it marked its halving last week, yet the response of its price to this awaited event was to fall.
It were as if holders were
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