Litecoin price corrected lower
recently and tested the $75.00 support against the US Dollar. LTC rebounded
nicely and it seems to be preparing for a fresh increase above $87.00.
Key Talking Points
- Litecoin price formed a decent support above the
$75.00 level and recovered (Data feed of Kraken) against the US Dollar.
- There is a major bearish trend line formed with
resistance near the $86.20 level on the 4-hour chart.
- LTC price must break the $86.20 and $87.00
levels to climb back towards the $95.00 and $100.00 levels.
Litecoin Price Analysis (LTC)
This past week, we saw a downside correction in bitcoin, Ethereum, EOS, ripple, litecoin and other altcoins against the US dollar. The LTC/USD pair declined below the $85.00 and $80.00 support levels before buyers appeared near the $75.00-76.00 support area.
Looking at the 4-hour chart, LTC price traded as low as $75.60 and recently recovered above the $77.50 resistance area. There was a break above the 23.6% Fib…
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