Technical analysis reveals the litecoin price movement patterns, indicating that LTC holders may need to be prepared as well as potential infiltration. The cryptocurrency is tested by the decisive support level that has retained firmness over the past three months, but the signs of weakness have become increasingly clear.
The Daily Chart reveals a clear descending trend line formed in recent months, and draw a picture of consistent sale pressure. The analysis indicates that buyers are struggling to maintain control, while facing all attempts to sell a stronger sale, which leads to a series of highest levels.
What makes the current situation in particular unstable is the behavior of the level of support for a period of three months. The bottom of the price was extremely important in preventing further decline, but the recent measures indicating that this support began to crack.
It is possible that the repeated tests of this level have weakened its strength, which may put the stage for a big step.
LTC potential negative goal
If the support level allows the field, the technical analysis of Thompson revolves around a disturbing scenario for Litecoin holders. The following important support zone is about 24-25 % lower than the current prices. This projection is not just speculation – it depends on fixed technical patterns and behavior of the previous market.
So that Litecoin can collapse decisively The descending trend line This has determined the last price procedure, and the path of resistance is less downs. While short -term bounces are still possible, you are likely to face great resistance on the direction line, which may enhance the total declining structure.
Read: What is the distinctive icons of Ripple (XRP) you need to become a millionaire?
A certainly lower collapse of three months can increase the sale pressure. The market is currently under Habbudian control, while aligning multiple technical indicators to propose more negative capabilities.
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