5 June 2019, OctaFX – Litecoin has followed the broader cryptocurrency market lower this week, with the sixth largest crypto so far finding technical support from the $96.50 level.
Litecoin price technical analysis
The $100.00 level is still seen as major breakout support on both the four-hour and daily time frames. Bulls need to rally the cryptocurrency towards the $120.00 level to negate the bearish double-top pattern formation on the four-hour time frame.
LTCUSD price is only intraday bullish while trading above the $110.00 level, key resistance is found at the $120.00 and $135.00 levels.
If LTCUSD price trades below the $110.00 level, key support is found at the $96.50 and $85.00 levels.
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