Litecoin News

Litecoin Next Price Target Towards $400 USD Soon – Trader Peter Brandt.

After dropping 43 percent three days ago, old school businessman Peter Brandt revealed his first plans on Litecoin. The first big resistance of ancient cryptocurrency, according to Brandt’s technical analysis, is at $ 400.

Brandt just tweeted that he anticipates a $395 over-the-top evaluation in 2021. In addition to the tweet, the trader included a Litecoin chart showing the break of the resistance line based on the prior highs hit in September and the future resistance area.

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LTC/USD 1 DAY CHART – SOURCE: COINMARKETCAP.COM

The indicated resistance zone corresponds to Litecoin’s high of $414 in May. Following the new ATH, the crypto market classic retraced by 60% in a matter of days, resulting in a major collapse out of it.

Following a large retracement and a global sell-off in the cryptocurrency market, most traders lost interest in Litecoin, which has been trading in a range for the last 170 days.

The most noticeable movement on the chart occurred on September 13th, when bogus news about Walmart accepting Litecoin was made, resulting in a big price increase that quickly vanished.

Some users complained that the coin’s performance against its main competitor, Ethereum, was unacceptable, as it resulted in a -91 percent price action, implying that while Ethereum is continually rising, Litecoin is either moving in a range or decreasing.

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