Litecoin Bulls Begin Consolidating – What Next For Litecoin?
Litecoin has been stripped off over $ 10 in value. Like with every other price movement, a price correction follows. Now, the bulls are beginning to consolidate and trying to recover from the recent dip. However, this might not be as easy as they might think. The market is still sensitive and any other slide could trigger another plummet. It also remains prone to any negative news from the market as investors. For Litecoin, a price showing a new year low.
Litecoin bulls have pushed Litecoin prices up and at the time of press is trading just above the $ 34 position. Litecoin prices should continue crawling back as the bears let go of the grip on the market. Before the market bloodbath, pundits were predicting that Litecoin would end the year in the highs of $ 500. Has been rallied to highs of $ 350. It is highly unlikely that the coin will go as high as $ 100. However, if the market is kind to the bulls, we should see it above $ 50 which is the position the coin has spent much of its time in the last 3 months.
LTC / USD Price Chart, Thursday November 22nd:
In the spite of the market's volatility at this time, this could well be the best buy opportunity.
With prices looking like they have finally bottomed, many are taking the opportunity to buy cryptocurrencies with great potential such as Litecoin and bet on them rallying soon.
Although risky, buying a cryptocurrency such as Litecoin almost guarantees a handsome reward as soon as the market begins to soar.
In the short term at least, Litecoin should be hitting $ 40.
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