Litecoin LTC price is going bullish; would it hit $45 again?

Litecoin LTC has been in a deep state of panic ever since the last halving event. While Litecoin LTC price had been falling drastically, traders didn’t lose hope and for a good reason.

Litecoin LTC price hit the $44 mark today but failing to break past the resistance it went down on the hill to as low as $41.80. Since the new weekly low Litecoin price moved back up to the $42.26 mark.

LTC price chart - 30 December 2019

Litecoin price chart by Trading View

Litecoin price movement reveals that the current support level lies at $41.60, and the price movement is facing strong resistance to break-through the $45 threshold.

LTC price chart 2 - 31 december 2019Litecoin price chart by Trading View

Litecoin LTC price movement: What to expect?

The support level lies at $41.81 at the time of writing, and the next support level is found at $41.20 while there is strong resistance at $42.40 mark.

On the one hand, Litecoin LTC price movement has been hovering below $50 mark since the 22nd of November. Although the price did get close to the mark at $49.91 on the 29th of November yet it was unable to breakthrough.

Even if the Litecoin LTC price manages to break past the $45 mark, the next major resistance would be at $47 and $49 before hitting the $50 mark again.

While on the other hand, LTC price can drop further down to $41.60 if the current support levels fail to provide the necessary cushion to break through towards $45.

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Disclaimer: The information provided is not trading advice but rather an informative analysis. holds no liability towards any investments based on the information provided above.