Litecoin Price Analysis: LTC bull run faces heavy resistance at $190

TL;DR Breakdown Litecoin correlation with Bitcoin provided bullish breakout at the start of the week Further optimism sparked over the launch of crypto services in UK by PayPalBearish pattern appears after LTC yesterday’s high at $191.94 Litecoin price analysis suggests that the token is at a critical point of resistance amid a bullish start of the week for the crypto market. LTC is currently trading at $179.93, having fallen from the established key resistance point of $190 yesterday. The strong run for Litecoin has been associated with its correlation to Bitcoin. Both tokens have a correlation of almost 1, owing to the blockhain operation of both at the same time and the use of LTC as a proxy blockchain for BTC by some investors. As the largest cryptocurrency in the world extended above $50,000, Litecoin also continues to dart higher. Further encouraging market movement was as PayPal enabled crypto services, including LTC, for users in the United Kingdom earlier in the week. The larger cryptocurrency market faced some correction today as Bitcoin fell 2.67 percent back to sit just above $48,500. Ethereum followed a similar pattern, falling 2.5 percent, along with Altcoins Cardano, Ripple, and Polkadot dropping around 4.5 percent each. The biggest dip was seen in Dogecoin, as it dropped 6 percent to sit at $0.29. Litecoin Price Analysis – Cryptocurrency Heat map. Source: Coin360 LTC/USD 24-hour price chart: End ...