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Litecoin (LTC) enters the consolidation phase before its next big move

Litecoin (LTC) is trading around $ 33 and is now consolidating just before its next big move. The real question is, "What's the next big move?" When LTC / USD was trading around $ 300, Charlie Lee, the founder of Litecoin (LTC), tweeted saying he did not want to spoil the party, but the price should fall. He also claimed that those who can not see Litecoin (LTC) fall to $ 20 should not buy. Charlie Lee said this in December 2017 and now we are just a few days from December 2018. Litecoin's (LTC) price is expected to fall in December this year if it is not already. In 2015, even after the capitulation of Litecoin (LTC) with the rest of the market, it ended up making a new annual minimum thereafter.

Litecoin (LTC) fell to a new annual low after the general market capitulation was very rapid and the price returned early from where it fell. However, the fact remains that it has made a new annual minimum after the capitulation of the market, which is why we can expect the same to happen this year. Now, many people might say that the circumstances are different and Litecoin (LTC) is bigger and better today. However, the reality is that none of these things is important because there are always reasons to repeat market cycles. For Litecoin (LTC) we could see this reason but we do not know yet what it will be. In 2014-15, we saw the drop in prices quickly because the infamous Mount. Gox trick has occurred. This year nothing like that happened, but the price has still fallen.

So, most of the time the price can repeat the story under the shadow of some events or developments, but even when there are no events or developments, the same thing happens in one way or another. If we look at the price of Litecoin (LTC), we can see that it worked much better than most of the coins during the last bullfight. As mentioned in our previous analyzes, this has to do with the quotation of Coinbase. A lot of people want to own full coins instead of a coin portion. So when Litecoin (LTC) was added to Coinbase, it was the cheapest currency and most investors bought a ton considering that there were no other currencies to invest in.

As Litecoin (LTC) has been more bullish than most currencies, it is also expected that it is now more bearish than most currencies to effectively complete its correction. Although Litecoin (LTC) seems to have found a temporary fund for now, it would not be surprising to see it fall further at the beginning of 2019 to actually reach a minimum of around $ 20. That said, for long-term believers in Litecoin ( LTC) this would be the ideal time to start accumulating. LTC / BTC seems to cling to its two-year trend line that has never broken so far. The 10-week EMA is now the closest to EMA for 21 weeks since June. At a time when the 10 EMAs exceed 21 EMAs, it is likely that we will see a bullish breakout that will eventually bring Litecoin (LTC) to a new all-time high.

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