Litecoin is seeing a lot of resistance today at $81.50. This level has continued to be an area that LTC cannot close above. Volume still remains on the decline. LTC should probably experience a pullback to gain strength before testing this level again.
Support currently sits at $77.38. Upper resistance sits at $82.72, so once LTC can close above $81.50, it'll need to test a close above upper resistance.
Some technical indicators on the 4-hr are now rolling over to show bearish pressure, however Stochastic RSI and MACD remain bullish.
We will probably experience sideways trading for a little while as we lie in this channel and volumes decline. A break of $77.38 will indicate a pullback highly possible. Support sits at $74 if $77.38 breaks.
Inverted Head and Shoulders formation. Must wait for a break of the trendline. If the daily candle close above that last, that can be very positive for bull movement.
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i am just getting the feeling that ltc will dive to under 50.
Its my six sense.
Don,t take it too serious
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I've thought that too. It went parabolic not too long ago and vertical movements aren't sustainable. Before that it was in a linear uptrend. Will be interesting to see what happens. Whole crypto market is massively overbought and over hyped though.
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What i told you 1 week before ops!
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