Litecoin looks like it may well reverse in price at some point during January probably after it tests early $0.30 cents again before a sharp reversal to the upside.

Johnny5ive75 is a trader over on TradingView and he thinks, looking at the macro scale that litecoin is due a move to the upside at some point during January.

He commented:

“Litecoin, just like Ethereum is in a descending wedge and is looking for a breakout at some point in January. I predict a revisit to early $0.30 cents will be followed by a sharp reversal to the upside.”

At the moment litecoin is trapped in a descending wedge and according to the analysis of Johnny5ive75 LTC will test last year’s lows again before a break out leading to an upswing with prices due to hit between $0.60 – $0.70 cents probably in early spring.

Litecoin looks ready to reverse in price very soon

The price for litecoin is $41 at the time of writing.

The entire cryptocurrency market at the moment is in an undecided phase which leads many to think that we have one further leg down before the market reverses in time for a new bull run triggered by interest in the bitcoin halving.

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