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Litecoin price analysis - LTCUSD heavily rejected from $80

Litecoin price analysis - LTCUSD heavily rejected from $80

Litecoin price loses 2.28% over the last 24 hours, and it is yet to get over from $80 resistance level. 

21 August 2019, OctaFX – The price of Litecoin is testing lower in early Wednesday trade after the fifth-largest cryptocurrency was heavily rejected from the $80.00 resistance level.

Litecoin price technical analysis

A sustained break of the $70.00 support level is likely to see the LTCUSD pair to fall towards the $60.00 level. Overall, despite being oversold the LTCUSD pair has yet to attract buying interest, which points to a possible deeper decline.

  • The LTCUSD pair is only bullish while trading above the $100.00 level, key resistance is found at the $110.00 and $120.00 levels.

  • If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $60.00 levels.

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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.

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