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Litecoin "LTC" Technical Analysis | 7 August 2019

2019-08-07 10:35 am | Resource: Technical Analysis Section | No Views : 44

Litecoin Litecoin (LTC) against USD failed to breach the $ 102.32 resistance area and then failed to stabilize above $ 99 and $ 94 due to weak bulls' resolve.
Therefore, the digital currency fell to break the rising trend line during yesterday's trading as a result of pressure from sellers and continued to fall to areas of $ 90.62.
Litecoin "LTC" Technical Analysis | 7 August 2019 
Cryptocurrency Litecoin (LTC), Our outlook is neutral at the moment due to the lack of confirmation of the breach of the rising trend line over the 240 minute interval.
In case of breaching the $ 90.07 zones, a break of the uptrend line will be confirmed and the trend will turn bearish.

Analysis of technical indicators of the digital currency Litecoin (LTC): 

The ADX is trading below 20 pips as a result of our neutral outlook.
The 20 SMA is neutral as it is not trading in a specific direction at this time.
Momentum indicator with default settings is bearish without confirmation.

Outlook:

It is expected that, in the event of a Litecoin (LTC) breach of levels of $ 106.27, the digital currency may target the areas of $ 120.80.
On the other hand, if the Litecoin (LTC) breaks the $ 90.07 area, the cryptocurrency may target $ 79.59 levels.
Support: 85.81-79.59- 71.86
Resistance: 94.62 - 99.03 - 102.32
Trend: Neutral

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