chart<\/a><\/span>, LTC price traded close to the $55.00 support and formed a low at $55.31. Later, it corrected higher and broke the 23.6% Fib retracement level of the last drop from the $62.19 high to $55.31 low.<\/p>\nIt also moved past the $58.00 level and the 100 hourly simple moving average. However, the upside move was capped by the 50% Fib retracement level of the last drop from the $62.19 high to $55.31 low. It seems like the pair was not able to break the $60.0 resistance zone.<\/p>\n
At the moment, the price is declining and is trading near the $57.50 level. More importantly, there is a major bullish trend line formed with support at $57.00 on the hourly chart of the LTC\/USD pair.<\/p>\n
The same trend line coincides with the 100 hourly SMA. Should there be a break below the trend line and $57.00, the price may revisit the $55.00 support zone. However, downsides are likely to be limited considering the current technical structure above $55.00.<\/p>\n
On the upside, litecoin price (LTC) has to move above the $60.00 resistance area to gain bullish momentum. Above this, the price is likely to retest the $62.20 swing high, which is the next resistance for buyers.<\/p>\n
The market data is provided by TradingView.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"
Litecoin price failed to hold gains above $60.00 and declined against the US Dollar. LTC\/USD tested the $55.00 support area and it is currently correcting higher. Key Talking Points \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Litecoin price found support near the $55.00 and $55.50 support levels (Data feed of Kraken) against the US Dollar. \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 There is a major bullish trend line formed with support at $57.00 on the hourly chart of the LTC\/USD pair. \u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 LTC could decline a few points below $57.00 before […]<\/p>\n","protected":false},"author":6,"featured_media":18187,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[824],"tags":[188,161,111],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/18186"}],"collection":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=18186"}],"version-history":[{"count":0,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/18186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media\/18187"}],"wp:attachment":[{"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=18186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=18186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=18186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"Litecoin](\"https:\/\/ethereumworldnews.com\/wp-content\/uploads\/2018\/08\/Litecoin_Price_Chart-13.png\" "\\"\\"")
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