Litecoin Price Technical Analysis – 100 Moving Average As Barrier

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Key Highlights

  • Litecoin price broke down once again, and currently struggling to recover some ground.
  • There is a monster barrier formed on 2-hours chart with data feed from HitBTC in the form of 100 simple moving average.
  • Moreover, there is a bearish trend line resistance formed on the 30-min chart (data feed via Bitfinex) that may be seen as a resistance area.
  • The price.

Litecoin price stayed down and traded lower. Every attempt by buyers to take the price higher failed as sellers enjoyed an upper hand.

Sell Near Trend Line Resistance?

Litecoin price after trading close to the $3.13 level on the 30-min chart (data feed via Bitfinex) failed and started to move down. The downside move was stalled near $3.02, as the all-important area of $3.00 came into the picture. Now, there is a bearish trend line formed on the 30-min chart, which can be seen as a sell area if the price continues to move higher from the current levels. There are a lot of bearish signs for Litecoins, as the price is below the 100 simple moving average (30-min chart and data feed via Bitfinex).

Litecoin Price Technical Analysis
Read more ... source: NewsBTC USA

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