Plunge

NEAR Protocol

Kaspa

Litecoin

Axie Infinity

<p>Veteran cryptocurrency trader Ali <a href="https://twitter.com/ali_charts/status/1742558181375496619" target="_blank" rel="noopener noreferrer nofollow">cautioned</a> that Litecoin is looking vulnerable following its recent sharp decline.</p>
<p>In a tweet today, Ali noted that Litecoin’s technical outlook appears challenging after the cryptocurrency failed to hold above its recent highs.</p>
<h3 class="wp-block-heading" id="key-points">Key Points</h3>
<ul>
 <li>If selling pressure persists, Litecoin could drop towards the key support level of around $38.</li>
 <li>This would confirm a bear-flag breakdown, a pattern that typically leads to further downside.</li>
 <li>At the time of writing, Litecoin has crashed 13.34% lower over the past 24 hours.</li>
 <li>The cryptocurrency is currently trading around $65.25 as it continues to bleed out.</li>
</ul>
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</figure>
<p>The trader’s analysis highlights the precarious situation facing Litecoin after its latest leg lower. The bear flag that appears to be taking shape on its chart is a decidedly negative technical formation.</p>
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<p>A decisive break below $38 support would open the gates for a potential decline towards the next major level around $25. Litecoin bulls need to see a sharp reversal back above $70 soon to invalidate the bearish momentum.</p>
<p>In summary, Litecoin is on shaky ground following its latest double-digit plunge. Traders should watch for a break of the $38 level to confirm the emerging bear flag pattern and renewal of the prevailing downtrend. Without a quick recovery, additional losses look likely for the major altcoin.</p>
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<p>The post <a href="https://captainaltcoin.com/litecoin-dips-11-alongside-other-altcoins-analyst-says-ltc-could-likely-plunge-to-this-level/" rel="noopener noreferrer nofollow">Litecoin Dips 11% Alongside Other Altcoins, Analyst Says LTC Could Likely Plunge To This Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Litecoin Dips 11% Alongside Other Altcoins, Analyst Says LTC Could Likely Plunge To This Level

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