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Technical analysis

Litecoin Strongly Bearish Below $27.00

OctaFx | Dec. 11, 2018
Litecoin Strongly Bearish Below $27.00

December 11, OctaFX – Litecoin continues to drift lower in early Tuesday trade, with the ninth largest cryptocurrency by market capitalization recently hitting a fresh 2018 trading low, at $21.90.

Litecoin Psychological $20.00 in Focus

The psychological $20.00 support level is now coming into focus, despite the RSI and MACD indicators being extremely oversold on the daily time frame. If buyers can create a bullish double-bottom, a short-term relief rally towards the $27.00 would then seem possible.

LTCUSD Technical Analysis

  • The LTCUSD pair is strongly bearish while trading below the $27.00 level, key support is found at the $21.90 and the $20.00 levels.
  • If the LTCUSD pair moves above the $25.00, buyers may test the $27.00 and $30.00 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.

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.