Litecoin Price Forecast: LTC hints at a 15% correction if these key conditions are met

Litecoin (LTC) price shows sigs of exhaustion after its recent upswing. If profit-taking turns into panic selling, then the chances of a steep correct

Litecoin price suggests a potential 15% correction after the sweep of the $70.69 range high. Depending on the 12-hour RSI’s encounter with the mean level of 50 LTC could either rally or slide lower. Invalidation of the bearish outlook will occur on the flip of the $70.69 hurdle into a support floor. ion are high for LTC holders.

A bounce off the mean level could hold the key to making or breaking LTC’s next move. A failure from bulls could trigger a breakdown of the RSI’s 50 level, which is likely to enforce a bearish outlook. In such a case, Litecoin price could slide lower and aim for the sell-side liquidity resting below the October 19 swing low of $59.70. But in an ideal rangebound scenario, LTC could sweep the range low of $57.69.

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