Litecoin Technical Analysis: LTC/USD reversal gains momentum as $40 level beckons
|- Litecoin bulls give in the bears’ battering as the downside targets $40.
- Technical levels remain negative ahead of the weekend session.
Spot rate: $44.59
Relative change: -0.2169
Percentage change: -0.48%
Trend: Bearish
Volatility: High
LTC/USD daily chart
Litecoin grinds further from the key resistance line endangering the support at $40.
The Relative Strength Index suggests that the ongoing reversal will last longer.
LTC/USD 4-hour chart
A ray of hope emanates from the support established at the 50% Fibonacci level.
The path of least resistance is downward sideways; with sideways trading likely to take center stage in the near term.
LTC/USD 1-hour chart
The short-term trendline support is critical in stopping the possible declines targeting the $40 level.
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