Litecoin technical analysis: LTC/USD bears break critical ascending trend line of support
|- Litecoin price on Thursday is nursing steep losses of some 13%.
- LTC/USD drops to its lowest levels seen since 6th June, as big sellers hit the entire market.
- There were some big moves seen across the cryptocurrencies yesterday, led by Bitcoin, fueled by Facebook Libra project on hopes of increasing Bitcoin usage. It could very well be profit-taking being seen.
Spot rate: 133.79
Relative change: -13.35%
High: 131.70
Low: 111.26
LTC/USD 60-minute chart
- Price action is retesting the daily low area, which if breached could see $100 quickly facing a retest.
LTC/USD daily chart
- Current daily price action is breaching a critical ascending trend line of support, opening the door to further downside pressure.
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