- Litecoin is trading 4.77% higher as there has been a small bounce in the crypto market.
- The lows of 23.46 have not been tested as buying volume came flooding in.
LTC/USD daily chart
Litecoin has been very weak over the last month falling from 84.50 to 35.00 today. There has been a small bounce but nothing meaningful enough to break the overall downtrend. Looking at the chart now, there has been one bullish note. This is the fact that the low of 23.46 is still intact. If this level broke to the downside then it could have been a very bearish signal and one we should continue to watch out for.
The most interesting point on the chart is the volume levels at the bottom. If you look to the bottom right you can see the exponential spike in the amount on contracts traded on the Coinbase exchange. This peak beats the levels seen in late 2017 to early 2018 during the boom time in the crypto market.
Make of this what you will, but it helped stem the losses with some big orders coming in at the right time.
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Additional levels
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