Litecoin Price Recovery Hits First Major Hurdle at $44

The price of LTC has shown signs of improvement after finding demand around $44. However, despite this momentum, the asset still faces challenges on its weekly chart.

On closer inspection, it's clear that the LTC price remains within a descending triangle pattern, and while recent gains have pushed the price above the 20-EMA ($62.61), there is still a long way to go before breaking through the resistance posed by the 50-EMA.

The bulls appear undeterred, however, with many eyeing an ambitious target of $80. Whether or not this can be achieved remains to be seen, but for now, the LTC price recovery faces its first major test at the $44 demand zone.