Litecoin Price Analysis: LTC/USD’s Previous Support Now Resistance

in #bitcoin6 years ago

Litecoin price recovered a few points, but it faced sellers near $50.00 against the US Dollar. LTC/USD is still trading below the $50.00 resistance and the 100 hourly SMA.

Key Talking Points

  • Litecoin price corrected higher, but it faced sellers near the $50.00 resistance (Data feed of Kraken) against the US Dollar.
  • There is a new connecting bearish trend line in place with resistance at $50.00 on the hourly chart of the LTC/USD pair.
  • LTC price is currently struggling to break the $50.00 resistance and the 100 hourly SMA.

Litecoin Price Forecast

Recently, litecoin price started a short term upside correction from the $48.00 support against the US dollar. The LTC/USD pair traded above the $49.00 and $50.00 levels, but it failed to hold gains.

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That's exquisite and neat =)