Litecoin Technical Analysis: LTC/USD re-approaching the catastrophic 9 month lows, as the bears look at taking out the $70 level, which could be devastating for the price

  • Litecoin nursing losses of over 1.5%, as it continues to be hit with selling pressure.
  • LTC/USD ran into strong resistance between $77-75, being forced to know defend $70 territory. 
  • Eyes are on a retest of the lows on 4th and 5th August, which marked the lowest level since November 2017 at $72.155. 

 

LTC/USD 4-hour chart


 

Spot rate:                   73.434

Relative change:       -1.60%

High:                         76.789

Low:                          73.280

Trend:                       Bearish

 

Support 1:                 73.061, (support on 4-hour chart). 

Support 2:                 72.750, demand zone entrance. 

Support 3:                 72.155, 4th and 5th August low, (9-month low).

Resistance 1:            75.000, supply zone.

Resistance 2:            77.550, 50MA.

Resistance 3:            76.550, 100MA, supply zone & 21st July low. 

 

 

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