Litecoin News: In this article, we will give general information about the current status of Litecoin (LTC) and how it can follow. It is currently trading at around $106. You can also see the support and resistance levels below:
Resistance levels: $135, $145, $155
Support levels: $80, $70, $60
LTC/USD remains below the moving averages (MA) on the 9-day and 21-day charts, while it could retreat to the nearest support level at $105. The downtrend may continue as there is no support at this level. Therefore, the main expected support level is located around $100, a drop to this level is possible.
LTC is trying hard to top the intraday action in the market action, but starting at just $100, a rebound can occur and if the whales step in it can push the market back up and push the Litecoin price up, LTC/USD could overtake the pair.
LTC support and resistance levels
If there is an uptrend, resistances are met at the tops of the downtrend at $135, $145 and $155, and if it continues to advance in the downtrend, there are strong supports at $80, $70 and $60. Falling below these support levels may allow for a sharp second decline.
Entering the market at these levels carries a lot of risk. It will be the best option for you to make your investment decision after seeing how long it can hold on to the support or resistance levels.