Litecoin Price Analysis: LTC/USD Could Be Dead Near $20

Litecoin price is down more than $300.00 from the all-time high. LTC/USD is likely to test the $20.00 level and it could continue to bleed in the near term.

Key Talking Points

  • Litecoin price extended losses below $35.00 and traded towards $25.00 (Data feed of Kraken) against the US Dollar.
  • There was a break below a declining triangle pattern with support at $27.00 on the hourly chart of the LTC/USD pair.
  • LTC price is likely to extend the current decline towards the $20.00 support level in the near term.

Litecoin Price Forecast

This week, we saw a slow and steady decline from the $35.00 resistance level in litecoin price against the US dollar. The LTC/USD pair broke many important supports near $32.00 and $30.00 and fell further into a bearish zone. All major cryptocurrencies are down heavily, including bitcoin, ethereum, ripple, neo, eos and bitcoin cash.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price declined below the $28.00 support recently and settled below the 100 hourly simple moving…

Read Full Story : Ethereum World News

2018-12-07 04:11:35

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