Litecoin price analysis: the downward trend slows over $ 50.00; buyers eager to recover from overall losses

  • Litecoin's price falls by more than 8% while the entire encrypted market is bleeding.
  • LTC / USD must break above the short-term resistance $ 52.00 to curve another path to the bidding zone at $ 56.5673.

currently looking for a balance of more than $ 50.00 as a result of the general declines that took place during yesterday's afternoon and evening trading sessions (GMT). The price plunged further opening the session today, Tuesday 14, beating mercilessly the short-term support for $ 56.00. The roll south continued during the Asian trading hours, but slowed considerably during European trading hours, embracing the 50.00 support.

The subtle upward corrections in the wake of the declines were limited to $ 52.00. LTC / USD is currently fundamental around the $ 51.00 level. A weak bullish trend is forming with the stochastic northward advance to 56%. The sellers, however, still have a firm grip on price, which explains the pressure of the bear at $ 52.00

A break above the stubborn short-term resistance at $ 52.00 will meet more resistance at the Fiber level of 23.6% of the last drop from peaks of $ 61.13 at lows of $ 49.91 to $ 52.5654. The last intraday resistance is located in the supply area above $ 56.5673. Support for $ 50.00, on the other hand, is very important for bulls. They have to fight with their fingernails and their teeth to keep the price above this level. Bollinger bands indicate a reduction in price volatility. However, LTC / USD is still in danger of further reductions lower than $ 50.00.

LTC / USD Chart 30 minutes

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