On Tuesday, December 17th, the LTC cryptocurrency is declining, trading at $39.76.

On D1, there is a downtrend developing. Upon reaching 76.0% and an attempt of a pullback to 61.8% Fibo, the quotations formed another declining wave. They have renewed the previous daily minimums and headed for the yearly fractal support line at $22.25. The resistance is at $56.63. There is also a converging forming in the MACD, which indicates a slow-down of the trend.

LTC/USD price chart

On H4, the declining wave is visible in more detail. The quotations are testing the local support line, which may soon end in a breakaway and a decline to the support line and $32.90.

On the Stochastic, the lines are in the oversold area, which means the stability of this short-term trend.

LTC/USD price chart

The users of the Litecoin network paid attention to some worrying activity. This could be hackers trying to identify the users. This attack may be a “dust attack” 7 days long.

A similar thing happened in the summer. Averagely, there happen some 40 thousand of transaction in the LTC network…

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Source: https://themerkle.com/litecoin-price-analysis-for-december-17th-ltc-under-bearish-pressure-again/