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  • LItecoin price dropped a chunky 6% on Monday, the bulls failed to  capitalize  on Sunday bounce.
  • LTC/USD recovery is under threat, a very short-lived bounce for Litecoin.
  • A breach of the Sunday low will invite a heavy amount of selling pressure, which could see the $20 territory at large risk.  

 

 

LTC/USD daily chart  

 
 

Spot rate:                   29.70

Relative change:       -5.96%

High:                          32.18

Low:                           28.62

 

Trend:                         Bearish

 

Support 1:                   27.76, daily pivot point support.

Support 2:                   24.65, daily pivot point support.

Support 3:                    22.40, daily pivot point support.

Resistance 1:              31.65, supply area.

Resistance  2:              33.12, daily pivot point resistance. .

Resistance  3:              35.37, daily pivot point resistance. .

 

LTC/USD 60-minute chart

  • The bears are driving the price towards a near-term trend line, a breach will likely see Sunday bounce area tested to the downside.