Litecoin is under pressure over the short and medium term after the LTC\/USD pair plunged lower over the weekend alongside the broader cryptocurrency market.<\/p>\n
Litecoin price analysis shows that a break under the $38.00 support level could trigger even more downside in the seventh largest cryptocurrency.<\/p>\n
Litecoin has reversed back towards the $40.00 support level after the cryptocurrency suffered another flash crash last weekend.<\/p>\n
Litecoin technical analysis shows that a bearish breakout from a large triangle pattern is close to taking place on the daily time frame.<\/p>\n<\/p>\n
The daily time frame shows that price is starting to test towards the bottom of a large triangle pattern, around the $41.00 level.<\/p>\n
According to the size of the triangle pattern, a breakout below the $41.00 level could cause the LTC\/USD pair to fall towards the $20.00 level.<\/p>\n
It is worth noting that the LTC\/USD pair has a bearish medium-term bias while price trades below the $51.50 level.<\/p>\n
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Litecoin technical analysis shows that the cryptocurrency only has a bearish short-term bias while price trades below the $44.00 level.<\/p>\n
The four-hour time frame shows that a head-and-shoulders pattern appears to be taking shape.<\/p>\n<\/p>\n
According to the size of the bearish pattern, the LTC\/USD pair could fall towards the $22.00 level over the short term.<\/p>\n
Watch out for a steep decline in the LTC\/USD pair if price starts to hold below the neckline of the pattern, around the $37.00 level.<\/p>\n
Litecoin technical analysis shows that a bearish reversal pattern may be forming. The higher time frames also show that a triangle pattern breakout is close to happening on the daily time frame.<\/p>\n
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Litecoin price analysis: Starting to turn bearish - Capital.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Litecoin is under pressure over the short and medium term after the LTC\/USD pair plunged lower over the weekend alongside the broader cryptocurrency market. Litecoin price analysis shows that a break under the $38.00 support level could trigger even more downside in the seventh largest cryptocurrency. Litecoin has reversed back towards the $40.00 support level after the cryptocurrency suffered another flash crash last weekend. Continue reading