Litecoin Technical Analysis: LTC/USD could be forced back below $30 to find buyers again

Litecoin price nursing losses of around 3.5% into the latter part of Monday's session.
LTC/USD may be forced to retreat further before finding firm buyers.

Ken Chigbo Independent Analyst

LTC/USD 15-minute chart

Moving within a range-block, as next breakout is very much imminent.

Spot rate: 31.10

Relative change: -3.55%

High: 31.47

Low: 30.67

Trend: Bearish

Support 1: 30.90, daily pivot point support.

Support 2: 29.73, daily pivot point support.

Support 3: 28.98, daily pivot point support.

Resistance 1: 32.87, daily pivot point resistance.

Resistance 2: 33.59, daily pivot point resistance.

Resistance 3: 34.76, daily pivot point resistance.

LTC/USD 60-minute chart

Price action broke out to the downside from an ascending trend line, that was supporting initial upside.

LTC/USD daily chart

Eyes on a potential retest of the below ascending trend line via the daily chart view, which would see the price just sub-$30.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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