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Litecoin Technical Analysis: LTC/USD falling price caught by safety net after burning in the deep south

Litecoin price gets dragged lower by the market bears, nursing losses just shy of 10%, through the mid-point of Thursday's session.
LTC/USD receives a late bounce from big support area just sub-$51.00 level.
Crypto expert from finder panel, Craig Cobb, predicts $50 per coin for 1 November 2018. Craig further explained that because the chart is messy, it’s difficult to predict anything other than short term.

Ken Chigbo Independent Analyst

LTC/USD 4-hour chart

Spot rate: .52.832

Relative change: -12.67%

High: 58.530

Low: 50.949

Trend: Bearish

Support 1: 50.700, 19th September low, big support area.

Support 2: 47.210, 12th September low.

Support 3: 42.350, demand zone.

Resistance 1: 52.750, resistance on 4-hour chart.

Resistance 2: 54.750, supply area.

Resistance 3: 57.900, pre-selloff level.

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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