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Technical analysis

Litecoin Heavily Bearish Below $26.00

OctaFx | Dec. 28, 2018
Litecoin Heavily Bearish Below $26.00

December 28, OctaFX – Litecoin has fallen to a fresh weekly low in early Friday trade as the entire cryptocurrency market comes under heavy selling pressure.

After peaking around the $36.60 level on Christmas Eve, the LTCUSD pair has now lost over twenty-five per cent of its market capitalization. A sustained move below the $26.00 support level may prompt traders to attempt to close the price gap around the $24.00 level.

LTCUSD Technical Prediction

  • The LTCUSD pair is heavily bullish while trading below the $26.00 level, key support is found at the $24.00 and the $20.80 levels.
  • If the LTCUSD pair moves above the $30.00, buyers may test the $33.00 and $36.00 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.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.