LTC/BTC Technical Analysis: Litecoin finally finds some support but how long will it last?
|- LTC/BTC pulls back toward 0.0072
- After a long term downtrend LTC/BTC finds some support
- Lower term timeframes showing signs of a trend change
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BTC/LTC has moved higher on the 30-min timeframe and is now in a retracement phase. The price has stopped just before the 38.2% Fibonacci level and the 0.0072 support zone.
The indicators are at depressed levels but look like they might turn back to the upside. On the support side, there could also be a trendline that could provide some support for the price.
On the upside, the key resistance level is at 0.0074 but if it breaks overnight it could indicate some further upside momentum.
Longer-term the price could break all-time lows if it gets to 0.00688 so remember the momentum is on the downside as the downtrend has been intact for a long time.
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