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: 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.