Today's Litecoin price analysis may seem very similar to yesterday's but the coin simply won't leave any other choice for this point.
LTC has been on a downward spiral for two days now after it peaked on $ 91 on Sunday. Many were expecting that Litecoin would hold the resistance levels of $ 86, but unfortunately, it failed to push through, causing bears to dominate the market.
At the moment of writing this article, LTC is trading at around $ 84 with predictions to go lower and fail the $ 80 support levels by the end of this week.
LTC chart by Trading View
The Litecoin depreciation is also facilitated by the overall poor performance of the crypto market these two days. Bitcoin has been struggling with the $ 11,300 price levels
Although firms like Goldman Sachs are predicting at $ 20,000 BTC correction it's still unlikely that major is going to follow it all the way.
As of right now, before the Bitcoin surge, the predicted price point of Litecoin is somewhere around $ 74 before the end of the week. However, this could only happen if the $ 80 support level is not maintained. If LTC holds and doesn´t dip below that crucial point, it´s likely that the $ 86 is going to be re-introduced.
Overall, Litecoin, like many other altcoins is bearish at the moment.