Two mid-term attempts by buyers in the LTC market to start a new growth wave have so far failed. Does this indicate the end of the positive for the LTC cryptocurrency in the near future? Let's look together. After a failed attack by buyers on 27 September, the LTC price fell by 45% in 3 weeks. Interestingly, the LTC price growth took much longer and at lower volumes than the fall. At the time of writing, the price is within the global growth channel. However, one step separates sellers from the <a href="https://www.cryptoknowmics.com/news/ltc-technical-analysis-it-is-important-to-keep-the-185-200-range-for-growth/">strong fall momentum</a> with the first target of $100 and the final $54.

<img class="alignnone" src="https://s3.tradingview.com/snapshots/x/xh09c7IW.png" alt="LTC" width="1386" height="790" />

<a href="https://www.tradingview.com/x/xh09c7IW/">https://www.tradingview.com/x/xh09c7IW/</a>

The fact is that there is now a struggle near the global price mark of $145 and the bottom line of the global growth channel. From 29 November, buyers managed to stop the local fall wave and keep the mark of $145. But, all this is happening at average volumes. Therefore, buyers have not yet confirmed their strength during a strong blow to sellers. We expect new attempts to break the $145 mark. If buyers can keep this mark by the end of December and organize a rebound to $180 - this will be a serious signal for the LTC growth.
<h2>LTC Technical Analysis in the Daily Timeframe</h2>
<img src="https://s3.tradingview.com/snapshots/r/rZ0H0d7b.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/rZ0H0d7b/">https://www.tradingview.com/x/rZ0H0d7b/</a>

Analyzing the LTC chart on the daily timeframe, you can see that in the last 2 weeks the price is moving in a narrow consolidation. Looking at the nature of LTC price movements and trading volumes, it seems that the cryptocurrency is dying. No increased trading volumes near the critical range of $140-$145. No attempts by buyers to a sharp price rebound. And this is despite the fact that Bitcoin dominance is steadily declining and is now near its lows.

Though, if we analyze how the reversal of the LTC price began on 29 September, we can understand that the behavior of buyers is a normal practice. To change the situation in the LTC market, buyers need to take control of the $165 mark. In this case, we will be able to more confidently declare the transition of the initiative in the market to buyers.
<h2>The LTCBTC Price Has Been in the Wedge Since May</h2>
<img src="https://s3.tradingview.com/snapshots/m/M9gtDy8v.png" alt="TradingView Chart" />

<a href="https://www.tradingview.com/x/M9gtDy8v/">https://www.tradingview.com/x/M9gtDy8v/</a>

A critical situation is also observed in the LTCBTC price chart. The price completes its corrective structure within the wedge, and at the moment there is only one question. Will the sellers still be able to push the price below the liquidity zone of 0.03 and test the lower trend line of the wedge? At the moment, the LTCBTC price is above the global mark of 0.03 and the probability that the fall will not continue is quite high. In any case, we expect a new wave of LTCBTC growth of about 60% in the near future.

LTC Technical Analysis: Is This the End of the Correction or the Collapse Beginning?

If buyers are able to keep this mark by the end of December and organize a rebound to $180 - this will be a serious signal for the LTC growth.

Peter came to know about cryptocurrencies in 2017 and was instantly enamoured by their massive potential. As he gained more insights about the crypto market, he began writing about it. Peter's daily activity is analysis and forecasting, studying the price movements probabilities, and trying to understand the market inside. He is glad to witness such a phenomenon as cryptocurrency and decentralized finance, and to participate in it.

LTC Technical Analysis: Is This the End of the Correction or the Collapse Beginning?

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