Litecoin is underneath stress over the quick and medium time period after the LTC/USD pair plunged decrease over the weekend alongside the broader cryptocurrency market.
Litecoin value evaluation reveals {that a} break underneath the $38.00 assist stage may set off much more draw back within the seventh largest cryptocurrency.
Litecoin medium-term value development
Litecoin has reversed again in the direction of the $40.00 assist stage after the cryptocurrency suffered one other flash crash final weekend.
Litecoin technical evaluation reveals {that a} bearish breakout from a big triangle sample is near happening on the each day timeframe.
The each day timeframe reveals that value is beginning to take a look at in the direction of the underside of a giant triangle sample, across the $41.00 stage.
In line with the scale of the triangle sample, a breakout beneath the $41.00 stage may trigger the LTC/USD pair to fall in the direction of the $20.00 stage.
It’s price noting that the LTC/USD pair has a bearish medium-term bias whereas value trades beneath the $51.50 stage.
Litecoin short-term value development
Litecoin technical evaluation reveals that the cryptocurrency solely has a bearish short-term bias whereas value trades beneath the $44.00 stage.
The four-hour timeframe reveals {that a} head-and-shoulders sample seems to be taking form.
In line with the scale of the bearish sample, the LTC/USD pair may fall in the direction of the $22.00 stage over the quick time period.
Be careful for a steep decline within the LTC/USD pair if value begins to carry beneath the neckline of the sample, across the $37.00 stage.
Litecoin technical abstract
Litecoin technical evaluation reveals {that a} bearish reversal sample could also be forming. The upper time frames additionally present {that a} triangle sample breakout is near occurring on the each day timeframe.
Commerce Litecoin to US Greenback – LTC/USD CFD
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