Litecoin (LTC) has continued to range in a channel against Tether (USDT) as it attempts to break out of this trend. The price of Litecoin LTC has shown little to no major movement despite the change in trend across the market in recent weeks as many altcoins rallied and produced gains of double digits. (Data from Binance) Related Reading: When Will Bitcoin Become An Inflation Hedge? Scaramucci Explains Litecoin (LTC) Price Analysis On The Weekly Chart From the chart, the price of LTC saw a weekly low of $45, which bounced from that area and rallied to a price of $56; considering its all-time high of over $200, this isn’t much of a movement. LTC’s weekly candle closed with a bearish sentiment, with the new week’s candle looking indecisive, showing signs of indecision on the part of traders. The price has struggled to gain traction as it attempts to break out of a price range in the region of $50-$60. If the price of LTC on the weekly chart maintains this structure, it could quickly return to $45, acting as support and the weekly low for the price of LTC. LTC needs to hold this support zone to avoid falling below the price. Weekly resistance for the price of LTC – $60. Weekly support for the price of LTC – $50, $45. Price Of LTC On The Daily (1D) Chart With more buy orders, the price of LTC could break to the upside after forming a range in a channel; a breakout and retest for LTC would mean more up...
