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LTC Gets Hit Hard by Correction — Will It Bounce?

2 mins
Updated by Ana Alexandre
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In Brief

  • LTC reached a new all-time high on May 10
  • There is support and resistance at $246 and $330, respectively.
  • LTC/BTC has broken out from a descending wedge.
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Litecoin (LTC) managed to reach a new all-time high price of $417 on May 10.

While it has decreased since, it is still trading above long-term support, trying to initiate a bounce.

Cryptocurrency trader @altcoinsherpa noted that despite the drop, LTC is still trading above a long-term support level at $270. The support area aligns with that which we have outlined.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing...