Litecoin price analysis: possible scenarios in LTC

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With the decline in Bitcoin, leading altcoins also suffered greatly. Litecoin is one of them. The coin lost 21 percent from $ 172 to $ 135 in just one day.

What signs does technical analysis give for LTC after this steep drop?

In our chart, which entered a downward trend in the short term, the Rising Wedge formation worked and took its 1st target. Below the 2nd support level, with candle closing, pricing can be seen up to 127 levels. In order to enter a downward trend in the medium term, it must close the daily candle below 120. If it gets its response from our support level, an increase to 153 and 172 can be seen.

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