Short-term Litecoin investors could profit if Bitcoin moves in this direction

LTC was in a slight uptrend. A bullish BTC would pump it toward $77.12. Litecoin (LTC) briefly fell below $75 after BTC dropped below $17.77K on 15 December. At press time, LTC was trading at $74.95 and appeared poised for an upside move if BTC moves above $17.77K. The 4-hour chart showed that LTC may […]

briefly fell below $75 after BTC dropped below $17.77K on 15 December. At press time, LTC was trading at $74.95 and appeared poised for an upside move if BTC moves above $17.77K.

The 4-hour chart showed that the price of LTC has been moving within a parallel channel since 22 November. At the time of writing, the LTC price was moving in the lower part of the channel, showing a slightly bullish signal. It is worth noting that the Relative Strength Index recorded a rise, although it was deep in the lower range. This shows that buyers were countering selling pressure. Thus, buying pressure may increase as buyers gain more leverage.

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