Litecoin Price Analysis: LTC/USD Testing Important Buy Zone

Litecoin price started a downside correction from the $56.35 high against the US Dollar. LTC/USD is currently trading near important support levels near $52.60.

Key Talking Points

  • Litecoin price formed a short-term top near $56.35 and corrected lower (Data feed of Kraken) against the US Dollar.
  • Yesterday’s highlighted two bullish trend lines with support at $55.10 and $53.60 were breached on the hourly chart of the LTC/USD pair.
  • LTC price is currently trading near a few key support levels near the $52.60 area.

Litecoin Price Forecast

Yesterday, we discussed saw a nice upward move above the $55.00 resistance level in litecoin price against the US dollar. The LTC/USD pair traded as high as $56.35 and later started a downside correction.

Litecoin Price Analysis LTC Chart

Looking at the chart, LTC price corrected lower and broke the $55.00 and $54.00 support levels. During the decline, there was a break below the $53.80 support and the 100 hourly simple moving average.

Additionally, the price declined below the…

Read Full Story : Ethereum World News

2018-11-08 05:18:10

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