Litecoin dropped a little in the short term but it could give birth to a new bullish momentum. It’s trading at 89.05 at the time of writing. It has dropped by 6.00% from yesterday’s high of 93.32 to 87.72 today’s low.
In the last 24 hours, Litecoin is down by 3.19% but it’s up by 4.43% in the last 7 days. Bitcoin’s drop forced LTC/USD to slip lower as well.
LTC/USD Temporary Drop?
Technically, LTC/USD could develop a new bullish momentum as long as it stays above the lower median line (lml). This represents a dynamic support. 94.01 represents an upside obstacle.
In the short term, it could move somehow sideways before developing a strong leg higher or a new sell-off.
LTC/USD Forecast!
False breakdowns below the lower median line (lml) may announce that the sell-off ended and that the buyers could take it higher again. This could represent the first buying opportunity.
A bullish closure above 94.01 validates further growth and brings new long opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
Litecoin dropped a little in the short term but it could give birth to a new bullish momentum. It’s trading at 89.05 at the time of writing. It has dropped by 6.00% from yesterday’s high of 93.32 to 87.72 today’s low.
In the last 24 hours, Litecoin is down by 3.19% but it’s up by 4.43% in the last 7 days. Bitcoin’s drop forced LTC/USD to slip lower as well.
LTC/USD Temporary Drop?
Technically, LTC/USD could develop a new bullish momentum as long as it stays above the lower median line (lml). This represents a dynamic support. 94.01 represents an upside obstacle.
In the short term, it could move somehow sideways before developing a strong leg higher or a new sell-off.
LTC/USD Forecast!
False breakdowns below the lower median line (lml) may announce that the sell-off ended and that the buyers could take it higher again. This could represent the first buying opportunity.
A bullish closure above 94.01 validates further growth and brings new long opportunities.
The material has been provided by InstaForex Company – www.instaforex.com
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