- Litecoin price failed to break the $98.00 and $100.00 resistance levels against the US Dollar.
- LTC price declined recently and broke the $92.00 and $90.00 support levels.
- There is a crucial contracting triangle formed with support at $83.80 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
- The pair could decline below the $83.80 support and it is likely to revisit the $80.00 support area.
Litecoin price is currently under pressure against the US Dollar and bitcoin. LTC is likely to retest the $80.00 or $77.60 support before a fresh upward move in the near term.
Litecoin Price Analysis
Earlier this week, there was a decent upward move above the $85.00 level in litecoin price against the US Dollar. The LTC/USD pair broke the $90.00 and $92.00 resistance levels. There was even a close above the $90.00 level and the 55 simple moving average (4-hours). However, the price failed to break the $98.00 and $100.00 resistance levels, and declined lower. Today, there was a…
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