Litecoin Price Analysis September 2020 | Buy the Dip for Litecoin?
Litecoin is starting to appear more bearish in the short term, as the cryptocurrency weakens below the $55 level.
Litecoin analysis shows that the cryptocurrency may be preparing to drop below the $50 support area to attract fresh buying interest.
The Litecoin price is turning lower alongside a number of other major coins as the cryptocurrency struggles to attract buying interest below the $60 level.
Litecoin technical analysis shows that the LTC/USD pair may perform a test of a former key breakout area below the $50 level.
The daily time frame shows that the LTC/USD pair staged a major technical breakout after moving above an important trendline last month.
Our Litecoin September forecast on the daily time frame shows that the key trendline in question is now located around the $47 level.
Weakness below the $50 support level may see the LTC/USD pair testing the key former breakout zone.
Bulls may enter from below the $50 level in anticipation of a powerful counter-rally, and further medium-term gains towards the $80 area which would be their Litecoin price target in the coming weeks and months.
Stay tuned for our full Litecoin September 2020 prediction and find out where the cryptocurrency is likely to be headed over the next few weeks. And if you have your own Litecoin price prediction, please let us know in the comments!
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