Litecoin Price Bearish Below $32.00


January 29, OctaFX – The LTCUSD pair has given back recent trading gains, after finding strong technical resistance from the $33.00. Price is trading inside a bearish head and shoulders pattern, which may indicate a larger price decline may occur soon.

It is also worth noting that Litecoin is still creating bullish higher price lows, despite the broader cryptocurrency market starting the week under heavy selling pressure.

LTCUSD Technical Analysis

  • The LTCUSD pair is bearish while trading below the $32.00 level, key support is found at the $28.00 and $25.00 levels.
  • If the LTCUSD pair trades above the $33.00, buyers may test the $36.00 and $40.00 support levels.

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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