Bearish Dominance Continues for Litecoin (LTC); Next Support to Look for $44.12

On December 01, Litecoin marked a 5.63% hike and reached $48.29 from $45.72. On the next day, LTC’s price was dropped by 5.39%, with the coin reaching $45.42. Then, in the next two days, $43.92 has been the lowest value for the coin. With a very sharp rise, Litecoin price moved to $46.98 before dropping again.

Litecoin Price Prediction

Currently, Litecoin price is on the slight recovery, but if we compare its current price with the price on December 04, LTC exhibits a downtrend of 5.14%. The currency might fall further as per the trend and reach its immediate support of $44.12. However, it exhibits signs of slight recovery, and hence, Litecoin price may be able to pick up the pace and reach $46.21.

We would strongly advise to enter into the trade as per the trend noticed to gain near-term profit. The bears have dominated LTC over the past five days except for the first two days. On December 4, 2019, Litecoin price surged, but it was temporary.