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Litecoin price analysis - LTCUSD corrects lower after hitting $120.00

Litecoin price analysis - LTCUSD corrects lower after hitting $120.00

31 May 2019, OctaFX – Litecoin price has started to trade lower after hitting $120.00, with the sixth largest cryptocurrency so far finding support from the $100.00 level.

Litecoin price technical analysis

The LTCUSD pair now needs to break above the $110.00 level to encourage new buying towards the $114.00 and $120.00 levels. The Ichimoku indicator on the four-hour time frame is showing that the $110.00 level is major support before the $90.00 region.

  • LTCUSD price is only bullish while trading above the $110.00 level, key resistance is found at the $114.00 and $120.00 levels.

  • If LTCUSD price trades below the $110.00 level, key support is found at the $100.00 and $90.00 levels.

Litecoin price analysis, LTCUSD price

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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