Litecoin price remains under fairly severe downside pressure

Litecoin price on Wednesday is trading in negative territory and like many of its peers has formed a bearish pennant structure.

28 August 2019, OctaFXThe 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.

Litecoin price


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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