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Litecoin price analysis 14 August 2019; Failed the $84 support

Litecoin price analysis 18 May 2019

It seems that the crypto market is currently being dominated by the bears, but every coin has its own issues at this point. The biggest loser so far is Bitcoin as surprising as that may be, but Litecoin is fast behind BTC’s downfall.

Our today’s Litecoin price analysis will try to focus on determining the following resistance and support levels for LTC and trying to figure out if the coin will manage to hold them one way or another. Here’s a hint before we get to it. It doesn’t look pretty at all.

Litecoin price analysis

LTC chart by Trading View

Litecoin price analysis: Resistance and Support

As already mentioned, Litecoin failed to maintain the $84.10 crucial support level today morning and is still on its way down with a 3% red digit right next to it on several platforms.

The primary support level for today was $82.84 but as you can already see from the chart, that much has failed. However, there is still hope at the $81.15 support and the $80 psychological. If they both fail to respond, the coin has the chance to drop as low as $71.

As for the resistance levels, currently, we’re looking at the $84.44 which was the primary support before $84.10 came into play. If a surge does begin, Litecoin has the chance to follow Bitcoin’s lead but BTC is currently not looking too hot, so it has to rely on its own volatility.

Giorgi Mikhelidze

Giorgi Mikhelidze

Georgian-born blockchain enthusiast Giorgi leverages his software development background for on point market commentary and analysis. A brief stint with Finance Makers and he's now covering crypto news for high authority websites with the tip learned from past experience, "Whenever you see people talking about the weakness of your idea, don't see it as criticism."

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