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14 August 2020

Litecoin (LTC) Price Analysis: Signs of Fresh Decrease To $40

Litecoin (LTC) Price Analysis: Signs of Fresh Decrease To $40

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The price traded below the 23.6% Fib retracement level of the upward move from the $39.37 low to $47.44 high.

If there is a break below the $44.00 level and the 55 SMA, the price could dive towards the $42.00 support.

The main supports are near $41.00 and $40.00, below which there is a risk of a larger bearish wave in the near term.

Looking at the chart, litecoin price is clearly showing a few bearish signs and it remains at a risk of more losses below $44.00 and $42.00.

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