Litecoin [LTC/USD] is struggling to find its footing in a Bitcoin dominated markets, currently trading around $42.52 levels.
LTC closed below 50-DMA yesterday for the first time since August 5, although the head and shoulders neckline came to the rescue of the virtual currency. The neckline support is seen today around $41.75 levels. The 14-day RSI has turned bearish and is sloping lower, indicating scope for further losses.
As per coinmarketcap.com, Litecoin has shed 1.05% over the last 24 hours. The market cap of the virtual currencies stands at $135.50 billion.
LTC/USD Technical Levels
An end of the day close below $41.75 would open doors for a big sell-off $37.75 [100-DMA] and $36.00 [July 6 low]. On the higher side, the 50-DMA level of $44.19 could offer resistance, which, if breached would open up upside towards $47.96 [July 21 high] and $50.247 [Aug 9 high].
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.