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Litecoin Sees Little Momentum; Not Enough For Bullish Outlook

From seekingalpha.com

Litecoin, always looking for adoption of its a quick cryptocurrency blockchain, has seen some adoption in gaming and exchanges. Still, technical analysis shows a stagnating pressure on upward price movement and a resistance below $70. Longer-term outcome is bearish. At the time of publishing, LTC had dropped more than 8% in 24 hours (Monday), well beyond the drop of BTC. Litecoin (LTC-USD) continues to bear its close correlation with Bitcoin (BTC-USD). The drop in BTC-USD from 12,000 to just above the 10,000 level was followed by a similar move in LTC-USD from $63 to below $48 in August/early September 2020. What is ... (full story)

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  • Category: Technical Analysis