December 5, OctaFX – Litecoin remains under downside pressure below the $30.00 level, as the entire cryptocurrency continues to suffer from a lack of buying demand.
Litecoin Bearish Bias Still Intact
A bullish inverse head and shoulders pattern is still visible across the lower time frames, although price continues to drift towards the key $27.00 support level. The momentum indicator on the four-hour time frame is also showing a bearish head and pattern may be emerging.
LTCUSD Technical Outlook
- The LTCUSD pair is bearish while trading below the $30.00 level, key support is found at the and $27.20 and $25.00 support levels.
- If the LTCUSD pair moves above the $30.00, buyers may test the $35.00 and $40.00 resistance levels.
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