FxNews—In today’s Litecoin technical analysis, we’ve observed an uptick in Litecoin’s momentum that began on November 21, reaching the $72 resistance level as anticipated.
Litecoin Technical Analysis – Time to Sell
Examining the LTCUSD chart, we note that the Awesome Oscillator indicator signals a divergence, suggesting that Litecoin’s bullish momentum may end. The 23.6% Fibonacci retracement level is currently the primary resistance in this scenario. Should this resistance level hold, we expect the LTCUSD price to continue its decline, maintaining the bearish trend.
Looking ahead, the initial bearish targets are set at $68.3, followed by $66.3. This bearish outlook for Litecoin technical analysis will be invalidated if the bulls push the price above the $72.8 resistance mark.