Thu, Jul 29, 2021 @ 13:33 GMT

LTCUSD Losing Support

Litecoin is continuing to move towards the $50.00 support level, as the recent reversal in Bitcoin has put the top altcoins back under selling pressure. Higher time frame analysis shows that the LTCUSD pair will turn technically bearish if a break under $48.50 level. The $48.50 level is important because that is the location of Litecoin’s trend-defining 200-day moving average.

The LTCUSD pair is only bullish while trading above the $55.00 level, key resistance is found at the $57.00 and the $60.00 levels.

If the LTCUSD pair trades below the $55.00, sellers may test the $48.50 and $45.00 support levels.

OctaFXhttp://www.octafx.com/?refid=871837
Octa Markets Incorporated is a forex broker recognized worldwide. OctaFX provides forex brokerage services to its clients in over 100 countries around the world. OctaFX uses the most up-to-date technology and knowledge to make your forex trading experience incredibly convenient. Our top goal is the trust and satisfaction of each client's needs and requirements. OctaFX sets the highest service level standards and maintains them, as well as constantly developing new services and promotions.

Featured Analysis

Learn Forex Trading