Litecoin price on Wednesday is trading in negative territory and like many of its peers has formed a bearish pennant structure.
28 August 2019, OctaFX – The price of Litecoin is still under fairly severe downside pressure on Wednesday as the broader cryptocurrency market fails to attract a sustained bid.
Litecoin price technical analysis
The bearish head and shoulders pattern on the four-hour time frame still suggests that the LTCUSD pair could fall to the $55.00 level. Overall, a break under the $70.00 level still remains the trigger for more short-term Litecoin selling.
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 $55.00 levels.
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