Ken Chigbo
Independent Analyst
- Litecoin price nursing losses of around 3.5% into the latter part of Monday's session.
- LTC/USD may be forced to retreat further before finding firm buyers.
LTC/USD 15-minute chart
- Moving within a range-block, as next breakout is very much imminent.
Spot rate: 31.10
Relative change: -3.55%
High: 31.47
Low: 30.67
Trend: Bearish
Support 1: 30.90, daily pivot point support.
Support 2: 29.73, daily pivot point support.
Support 3: 28.98, daily pivot point support.
Resistance 1: 32.87, daily pivot point resistance.
Resistance 2: 33.59, daily pivot point resistance.
Resistance 3: 34.76, daily pivot point resistance.
LTC/USD 60-minute chart
- Price action broke out to the downside from an ascending trend line, that was supporting initial upside.
LTC/USD daily chart
- Eyes on a potential retest of the below ascending trend line via the daily chart view, which would see the price just sub-$30.
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