Litecoin Remains Under Downside Pressure Below $30


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.

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.

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