Litecoin Price Key Highlights
- Litecoin price struggling to gain momentum, and continued to probe an important bearish trend line on the hourly chart (data feed from Bitfinex).
- Only a break above the highlighted trend line and resistance area could ignite an upside move.
- On the positive side, there is a bullish trend line formed on the 2-hours chart (data feed from HitBTC), acting as a support.
Litecoin price is showing bearish signs if we look at the lower time frame chart, but it is bullish if we look at the 2-hours chart.
Buy with a Break?
Litecoin price looks like struggling to gain traction and currently facing a tough barrier around a bearish trend line on the hourly chart (data feed from Bitfinex). Currently, the price is flirting with the 100 hourly simple moving average. It acted as a support on a number occasions, and if sellers manage to take the price below it, then more losses are possible.
On the upside, the trend line is also coinciding with the 50% Fib retracement level of the last drop from the