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Litecoin price analysis - Will LTCUSD further decline below $90?

Litecoin price analysis - Will LTCUSD further decline below $90?

24 July 2019, OctaFX – Litecoin price is once again trading below the $90.00 level after the cryptocurrency suffered a strong technical rejection from the $104.50 region.

Litecoin price technical analysis

The $75.00 level may start to come back in focus if bulls struggle to contain the LTCUSD pair above the pivotal $90.00 level. The head and shoulders pattern on the four-hour time frame is also still predicting a deeper drop towards the $60.00 level.

  • The LTCUSD pair is only bullish while trading above the $90.00 level, key resistance is found at the $105.00 and $120.00 levels.

  • If the LTCUSD pair trades below the $90.00 level, key support is found at the $75.00 and $60.00 levels.

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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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