LTC/USD could be forced back below $30 to find buyers again

Fibo Quantum

  • Litecoin price nursing losses of around 3.5% into the latter part of Monday’s session. 
  • LTC/USD may be forced to retreat further before finding firm buyers. 

LTC/USD 15-minute chart

  • Moving within a range-block, as next breakout is very much imminent. 

 

Spot rate:                  31.10

Relative change:      -3.55%

High:                         31.47

Low:                          30.67

 

 

 

Trend:                        Bearish

 

Support 1:                  30.90, daily pivot point support.

Support 2:                  29.73, daily pivot point support.

Support 3:                  28.98, daily pivot point support.

Resistance 1:             32.87, daily pivot point resistance.

Resistance 2:             33.59, daily pivot point resistance.

Resistance 3:             34.76, daily pivot point resistance.

 

LTC/USD 60-minute chart

  • Price action broke out to the downside from an ascending trend line, that was supporting initial upside. 

 

LTC/USD daily chart

  • Eyes on a potential retest of the below ascending trend line via the daily chart view, which would see the price just sub-$30.