Litecoin continues to seek a bottom while extending June’s losses. A falling wedge pattern suggests that in the long-term Litecoin will break out into a rally. The drop in Litecoin price should not come as a surprise to investors. The drop is only a continuation to the downtrend that kicked off when LTC/USD was rejected at $145 in June. Daily chart clearly shows Litecoin is hunting for a bottom while trading lower high highs and lower lows. Following the previous drop in September, Litecoin managed to stay in a range between $60 – $50. Attempts to break above the trendline resistance were thwarted numerously by the rising selling pressure over the last three months. The slide under $50 on Wednesday has renewed the bears interest to push Litecoin towards $20. The Relative Strength Index (RSI) is holding ground above 30 while the horizontal movement shows market indecision. The Moving Average Convergence Divergence (MACD) puts emphasis on a possible sideways trading trend. LTC/USD daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next GBP/USD on the defensive, below mid-1.2800s amid UK election uncertainty FX Street 3 years Litecoin continues to seek a bottom while extending June's losses. A falling wedge pattern suggests that in the long-term Litecoin will break out into a rally. The drop in Litecoin price should not come as a surprise to investors. The drop is only a continuation to the downtrend that kicked off when LTC/USD was rejected at $145 in June. Daily chart clearly shows Litecoin is hunting for a bottom while trading lower high highs and lower lows. Following the previous drop in September, Litecoin managed to stay in a range between $60 - $50. Attempts to break above the trendline… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
