Litecoin (LTC) Price Analysis: Bulls Facing An Uphill Task At $42.50

Earlier, LTC price extended its decline below the $40.50 support level. At the moment, the price is facing a strong resistance near the $42.20 and $42.50 levels, plus the 55 simple moving average (4-hours).

Therefore, litecoin price must break the $42.50 resistance level to start a strong recovery wave. If the bulls succeed, the price might rise towards the $44.50 and $45.00 resistance levels in the near term.

Timeline of Litecoin