Litecoin is trending higher in an ascending channel on its 1-hour time frame and is presenting a pullback opportunity to an area of interest.
Litecoin price had recently one of the most stable performing development out of the top-ten cryptocurrencies leading by market capitalization.
Considered Bitcoin's counterpart, the news and regulations declared yesterday did struck Litecoin very hard making any possible supportive trading level to be of no help in the near term.
Litecoin price in the last 24-hours is turning downside-ish a bit for a start of the week on Monday, as it hovers around $53.
The pair LTC/USD on Sep 22 has declined lower than $50 in only a couple of weeks which mark indicates 50% loss since its all time high record price.
Leaving behind a very price tanking and struggling to hold ground week, for the near term it seems the market has recovered from the rumors and its on the right way of upward continuation.
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