Breaking: LTC/USD drops by 10% dipping below $60

Litecoin is down 11% in the past 24 hours and lost $60 briefly.
LTC/USD is currently trading at $60.44 just below the daily 12-EMA.

Lorenzo Stroe Independent Analyst

Litecoin has suffered a steep correction in the past 24 hours although the digital asset is still in a daily uptrend. Litecoin bulls are desperately trying to defend the 12-EMA and the $60 psychological level.

LTC/USD daily chart

The last clear low is established at $51.61 which means that anything above this level is considered a higher low and a continuation of the daily uptrend, however, a sudden loss of $60 is significant. Buyers also have the 26-EMA at $57 as a potential support level.

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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