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Technical analysis

Litecoin Price Resumes Downward Slide

OctaFx | Feb. 6, 2019
Litecoin Price Resumes Downward Slide

February 6, OctaFX – Litecoin is starting to trade lower on Wednesday after buyers once again failed to break above the technically important $33.00 level.

Technical indicators are starting to turn lower, which may signal that the LTCUSD pair is ready to test the bottom end of its trading range. A large head and shoulders pattern with a $10.00 downside projection is still valid on the four-hour time frame.

Litecoin Price Technical Prediction

  • The LTCUSD pair is only bullish while trading above the $33.00 level, key resistance is found at the $36.00 and $40.00 levels.
  • If the LTCUSD pair trades below the $28.00, sellers may test towards the $25.00 and $18.00 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.

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.