Litecoin price struggles to regain bullish momentum

Litecoin price went up from $90.50 to $91 in the early hours of Wednesday, showing slight bullish momentum.

31 July 2019, OctaFX – Litecoin (LTC) price remains technically weak headed into the monthly price close, as the popular crypto struggles to regain bullish momentum.

Litecoin price technical analysis

A large monthly reversal candle and a monthly price close below the psychological $100.00 level should be considered bearish for the LTCUSD pair. Overall, continued selling down towards the $70.00 level remains the favoured scenario.

  1. The LTCUSD pair is only bullish while trading above the $100.00 level, key resistance is found at the $105.00 and $120.00 levels.

  2. If the LTCUSD pair trades below the $100.00 level, key support is found at the $88.00 and $70.00 levels.

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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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