Analyst: Litecoin Primed for Further Losses as Technical Strength Degrades

Litecoin’s recent halving event had led many investors and analysts alike to believe that it was poised for a large bull run throughout the second half of 2019, but LTC’s lackluster price action as of late has dissolved all the hype that was previously surrounding it.

Now analysts are noting that the crypto is likely to face significantly further downwards pressure in the near-future, despite the recent bullishness that Bitcoin and many other altcoins have incurred over the past few days.

Litecoin’s BTC Trading Pair “Looks Terrible,” Claims Prominent Analyst

At the time of writing, Litecoin is trading up nearly 4% at its current price of $69.20 but is currently trading down nearly 1% against Bitcoin.

Although Litecoin’s USD trading pair has risen from lows of nearly $60 to its current levels, it has been facing consistent losses when denominated against BTC and is also down significantly from its pre-halving USD highs of over $140. Read More at NewsBTC...

#LTC #TA #Bearish