- Litecoin trading firmly in the red again, with losses of around 4% late on Thursday.
- LTC/USD price action spells further danger, within current consolidation mode.
The Litecoin price is nursing heavy losses late on Thursday, down some 4%, as the market continues to take a hard battering from the bears. Despite the heavy overselling seen across the board, there appears to still be room for another drop, giving current price behaviors.
LTC/USD is moving within another range block formation, having formed this following its steep drop, from 18th-20th November. Prior to this fall, the price had been moving within a range/consolidation block, between 14-18th November.
Near-term vital support should be noted at the lower part of the current range formation, eyed at $31.30. A breach could see a very fast fall to the $20 territory. Looking to the upside, resistance seen around $35-36, the upper part of the current range.
LTC/USD 4-hour chart
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