LITECOIN | DOWNSIDE PREVAILS
LITECOINS has broken its bullish trend by the break of rising trendline which is now acting as a resistance.
We have identified multiple support level.
1. For Litecoin to continue its downward journey, it must break the horizontal support of 51-52 where recently we saw undercut.
2. The next possible support comes at 46 which can be set as a target for short term bearish stance.
3. The next hurdle for the bulls is 63-64 area where bulls failed multiple times before.
We are expecting the market to be bearish for sometime until BTC define its bottom. Stay sell on strength in alt coins.
Let us know what do you think of the idea.
We have identified multiple support level.
1. For Litecoin to continue its downward journey, it must break the horizontal support of 51-52 where recently we saw undercut.
2. The next possible support comes at 46 which can be set as a target for short term bearish stance.
3. The next hurdle for the bulls is 63-64 area where bulls failed multiple times before.
We are expecting the market to be bearish for sometime until BTC define its bottom. Stay sell on strength in alt coins.
Let us know what do you think of the idea.
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