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