DAILY NOTION: Litecoin Price Analysis: LTC is Ready for a Downside Correction
LTC/USD hit the highest level since February 2020 at $83.91 during early Asian hours and retreated to $81 by the time of writing.
Despite the downside correction, LTC has gained over 10% on a day-to-day basis and nearly 32% in the last seven days.
LTC bottomed at $41.6 on Sep 27 and has been growing steadily ever since amid the global recovery on the cryptocurrency market.
It is the sixth largest digital asset with a current market capitalization of $5.3 billion and an average daily trading volume of nearly $7 billion.
While currently, LTC is an apparent growth leader of the week out of top-10 coins, the situation is about to change any minute.
TD sequential indicator has already printed eight green candlestick on 4-hour and daily charts, meaning that the upside momentum is fading away and the price is ready to reverse.
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