Litecoin (LTC) - Bearish Short Term {£GBP}Despite the BTC dip this week, today's price of "Litecoin" still remains bearish-looking short term as it is trading near the local support level of £79. Thus this mark is crucial for bulls, if it breaks out, the drop is likely to continue to the £76 area.
On the daily time frame, the price action of LTC has failed to rise after yesterday's bullish closure. If the candle closes around current prices; traders can expect a test of £72 shortly.
From the midterm bullish point of view, traders should not expect any sharp moves too soon. In this case, ongoing consolidation in the wide range of £76-£83 is the more likely scenario until mid-April near the BTC halving.
