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.
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