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Technical analysis

Litecoin Declines to New 2018 Low of $21.30

OctaFx | Dec. 14, 2018
Litecoin Declines to New 2018 Low of $21.30

Litecoin fell to a fresh 2018 trading low this week, with the LTCUSD pair reaching levels not seen since May 2017.

December 14, OctaFX – Litecoin continues its recent long-term downtrend on Friday, with the ninth largest cryptocurrency by market capitalization falling to a new yearly trading low, of $21.30.

LTCUSD Technical Analysis: $21.30 Now Key Support

Short-term bulls have been unable to establish a clear trading bottom, with price still creating bearish lower lows. A test of the $20.00 support level seems inevitable as the broader cryptocurrency market remains under heavy selling pressure.

  • The LTCUSD pair is strongly bearish while trading below the $25.00 level, key support is found at the $20.00 and the $17.80 levels.
  • If the LTCUSD pair moves above the $25.00, buyers will be encouraged to test the $27.50 and $30.00 resistance levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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