Renowned crypto analyst Cryptollica has shared a detailed forecast for Litecoin (LTC), outlining its price trajectory from 2020 to 2024. In a recent post, the analyst highlighted significant price patterns, noting that LTC’s movements follow 812-day cycles marked by distinct highs and lows.

Currently, LTC is priced at $73.04, a 5.54% decrease over the past 24 hours. This decline persists despite the Litecoin network processing an additional 6 million transactions since June 5, when it reached a milestone of 250 million transactions. Over the past month, LTC's value has dropped by 13.20%.

The analysis points to a recent breakdown in the wedge pattern on the daily chart, indicating a shift to a bearish trend. This shift comes despite previous periods of consolidation that had offered some stability. The breakdown suggests that LTC may face further downward pressure in the near term.

Analysts anticipate a potential recovery for LTC in the upcoming week. One possible scenario includes a bounce that could lead to a retest of the disrupted wedge pattern, though renewed selling pressure may challenge sustained upward movement. Another scenario involves a return to the April low of $86 before LTC can gather further strength. In the short term, the $90 level is critical for bullish momentum, but the lack of significant buying volume suggests a major bull run is not imminent.

Recent price movements and market conditions have put LTC under considerable pressure. The decrease in value comes amid broader cryptocurrency market turbulence, with many coins experiencing similar downward trends.

LTC is facing significant bearish pressure, with analysts predicting potential downturns amid miner sell-offs. While short-term recovery opportunities exist, the lack of buying volume and challenging market conditions suggest that LTC could remain under pressure for the foreseeable future. Investors are encouraged to stay vigilant and consider both technical and macroeconomic factors when evaluating LTC’s potential.