TL;DR Breakdown LTC faced rejection at $195 resistance point earlier in the weekHead and shoulders pattern formed on intra-day chart, suggesting further decline is to comeTrading volume dips almost 40 percent Litecoin price analysis for the day suggests that the token is set for further decline over the coming days and weeks, after facing another rejection at the $195 point yesterday. Traders remain skeptical about the coin’s prospects since the news regarding Walmart’s fake report on accepting Litecoin came into spotlight. Despite earlier momentum pushing price as high as $196 on Thursday, bearish returns have taken over the market. Trading volume does not present a bullish sight either, dropping down to near 40 percent. Litecoin’s price action has replicated that of the larger cryptocurrency market, as Altcoins recorded decrements across the board. Ethereum continues to consolidate just under $3,500, with other Altcoins such as Cardano, Ripple and Dogecoin going down around 4 percent each. However, Solana comes off as a big winner in the market, upping 10 percent to rise above $160. Bitcoin also showed some promise in the market, consolidating above $48,000. Litecoin price analysis: Cryptocurrency heat map. Source: Coin360 LTC/USD 24-hour chart: Head and shoulders pattern appears, presenting a bearish outlook The 24-hour chart for Litecoin price analysis shows formation of a head and shoulders pattern w...
