Litecoin price shows sideways trading in the previous sessions and test the key support 29.40, and by taking a deeper look at the chart, we find that the price drew a head and shoulders’ pattern that its confirmation line located at the mentioned support, which means that breaking this level will push the price to return to the main bearish track, targeting visiting 25.65 followed by 22.30 levels mainly.
The EMA50 forms negative pressure that supports the chances of declining in the upcoming sessions, making the bearish bias suggested unless the price managed to breach 31.10 followed by 33.20 levels and hold above them.
Expected trading range for today is between 25.65 support and 33.00 resistance
Expected trend for today: Bearish
The EMA50 forms negative pressure that supports the chances of declining in the upcoming sessions, making the bearish bias suggested unless the price managed to breach 31.10 followed by 33.20 levels and hold above them.
Expected trading range for today is between 25.65 support and 33.00 resistance
Expected trend for today: Bearish