- LTC / BTC pulls back towards 0.0072
- After a long-term downward trend, LTC / BTC finds support
- Lower time intervals that show signs of a change in trend
BTC / LTC has moved higher in the 30-minute period and is now in a retracement phase. The price stopped just before the Fibonacci level of 38.2% and the support area of 0.0072.
The indicators are at depressed levels, but it seems they could return to the upside. On the support side, there may also be a trend line that could provide support for the price.
On the positive side, the key resistance level is at 0.0074 but if it breaks during the night it could indicate further upward momentum.
In the longer term, the price could break historic lows if it reaches 0.00688, so remember that the momentum is down because the downward trend has remained intact for a long time.