Litecoin is trading above a long-term descending trendline resistance but $70 hurdle remains unconquered. LYC/USD continues to battle bearish pressure in a bid to stay above $60. Spot rate: $60.98 Relative change: -0.3774 Percentage change: -0.61% Trend: Bearish Volatility: Expanding LTC/USD daily chart The formation of a rising wedge pattern means that a breakdown towards $50 is in the offing. The zone between $46 – $50 remains the key support area able to defend against acute selling pressure. LTC/USD 4-hour chart LTC/USD slides under the ascending trendline support but bulls manage to defend $60.00 short-term support. The MACD shows that the bears are gaining traction with a short term target at $58. LTC/USD 1-hour chart The short term trendline support has been tested twice and has the potential to defend $60 support. The MACD’s bullish cross suggests that bulls are gaining traction in the near-term. 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 Bitcoin technical analysis: BTC/USD odds of a rally to $14,000 before December 31 FX Street 3 years Litecoin is trading above a long-term descending trendline resistance but $70 hurdle remains unconquered. LYC/USD continues to battle bearish pressure in a bid to stay above $60. Spot rate: $60.98 Relative change: -0.3774 Percentage change: -0.61% Trend: Bearish Volatility: Expanding LTC/USD daily chart The formation of a rising wedge pattern means that a breakdown towards $50 is in the offing. The zone between $46 - $50 remains the key support area able to defend against acute selling pressure. LTC/USD 4-hour chart LTC/USD slides under the ascending trendline support but bulls manage to defend $60.00 short-term support. The MACD shows that… 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.
