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Critical support tested, imminent release

  • The decline in Litecoin Falls has threatened losses below $ 40.
  • The inversion above $ 50 depends on the protection of critical support $ 41- $ 40.

The $ 2.5 billion digital asset has sensed the devastating effects of the crypt crypt on Wednesday. The data on CoinMarketCap show that Litecoin was not able to bounce from the journey undertaken downstream. There is a 24-hour drop of 12.47% while Thursday's daily drop is 2.72%.

The slide sent the Litecoin price below $ 45, where it continued to test the levels towards $ 40. The bulls managed to rebalance slightly above $ 41. A recovery from these lows remained below the base support at $ 45. LTC / USD is critical for $ 43 while it embraces support at $ 43.00.

A break above the support of the downtrend line is intended to pave the way for gains in excess of $ 43. Sustained growth in confidence depends on whether buyers can support the move above $ 45. The gap between the 50 SMA and the 100 SMA on the 15-minute chart continues to increase. Which means that sellers are reaching high levels. The lateral trading trend will progress in the near future, as observed by the RSI range and the MACD, currently clinging to the average (0.0).

The good is not out of the danger of slipping below $ 40 but if the bulls can trace the line in the sand at $ 41, then LTC will have time to forge a correction on the road at $ 50.

LTC / USD Chart 15 & # 39;

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