LTC Gets Hit Hard by Correction — Will It Bounce?

2 mins
17 May 2021, 17:40 GMT+0000
Updated by Ana Alexandre
17 May 2021, 17:40 GMT+0000
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.


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