Litecoin price analysis: LTCUSD forms bearish pattern

9 May 2019, OctaFX – Litecoin is struggling for direction in early Thursday trade, with the sixth largest cryptocurrency failing to move higher despite numerous short-term upside attempts.

Litecoin price technical analysis

The one-hour time frame is currently showing that a bearish head and shoulders pattern has formed. LTCUSD buyers now need to move price above the $80.00 resistance level to invalidate the bearish price pattern.

  • The LTCUSD pair is only bullish while trading above the $70.00 level, key resistance is found at the $80.00 and $99.00 levels.

  • If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $58.00 levels.

Litecoin price analysis, LTCUSD bearish pattern


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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