Litecoin (LTC) appeared extremely weak when it fell below the 21 Week EMA. The decline was a very sharp and steady one. Debates over value proposition of Litecoin (LTC) began to surface and a lot of investors and analysts were convinced that Litecoin (LTC) might break market structure and fall significantly below $ 50. However, as the above weekly chart for LTC/USD shows, Litecoin (LTC) did an excellent job at not only defending key support levels but also forming a strong bottom.
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