- 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.
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