After rumours broke that Walmart would start accepting Litecoin at all its eCommerce stores from October 1, the company has come out to deny the reports. However, the initial news and rebuttal from the company has clouded Litecoin price predictions on both sides. Expectedly, the excitement that followed the initial announcement has died out as the knee-jerk price surge has been reversed almost instantly.
Litecoin price predictions for a bullish move could still be in the works, as the price has retreated to the market’s open price and not lower. Given the formation of this large pinbar on the 180.82 support, what is the Litecoin price prediction outlook?
The intraday drop following the knee-jerk rise presents an opportunity for bulls to push up from the 180.82 support, targeting a retest of the intraday high at 240.46. This move has to take out 192.49 and 220.37 to be actualized. An advance beyond 240.46 sends Litecoin towards multi-month highs at 263.37.
On the flip side, a decline below 180.82 opens the door for a further decline, targeting 160.72 initially before 142.57 and 120.53 appear in the picture as additional targets to the south.
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