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- The price of Litecoin collapses to $ 30.00, as the market falls to $ 145 billion.
- The path of least resistance is sideways; the bulls can defend short-term support.
Crypto crash has reached overwhelming levels. The market capitalization has decreased to $ 145 billion (the lowest levels this year). The price of Litecoin has also fallen victim to the paralyzing since last week. At press time, LTC / USD is still in red with 8.6% declines despite the $ 30 balance.
The rotation of the queue has been unstoppable since Monday, after the support for $ 42.00 sold the sellers. The business is currently trading below the moving averages. Furthermore, the upside is limited to the Fib 23.6% retracement level with the last high swing at $ 49.62 and a low swing at $ 30.75. There is a sideways movement with the price flirting with $ 32.45.
The RSI in the time slot has recovered from 20.45 but has not yet managed to leave the oversold. The same is reflected in the fast stochastic oscillator that is immobile at 30. The path of least resistance is sideways with buyers who have the strength to defend short-term support at $ 30.00. If this level is broken, Litecoin could go towards $ 20.00. Recovery will be an uphill task in a cryptographic market that is still bleeding.
Chart at 1 LTC / USD
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