Technical Analysis for LTCUSD for 14th December 2021
Litecoin Retests $140; will LTCUSDT Sink Another 30%?
Past Performance of LTC
The Litecoin price is on the cusp of slipping to register new Q4 2021 lows following the drawdown on December 23.
LTCUSDT is within a bear breakout at spot rates, dropping 50 percent from November 2021 highs.
What to Expect of LTC
LTCUSDT price action is bearish as per the candlestick arrangement in the daily chart.
Judging by the pace of the recent fall, LTC could dump below September 2021 lows at $140.
In that eventuality, losses of early December would be confirmed, forcing LTCUSDT to move as per the trend set from mid-November.
Litecoin Technical Analysis
Litecoin is sinking, dropping 50 percent from peaks as sellers step up.
Since bars are bearish, moving in lock-step with the December 4 bars below the middle BB, aggressive traders might align their trades with the primary trend.
A break below $140 may see LTC dump harder towards H2 2021 lows of around $100 for a 30 percent dip.
On the flip side, a rebound above $170 could slow down the sell-off, even resuscitating hammered Litecoin bulls.
Resistance level to watch: $170
Support level to watch: $140
Disclaimer: Opinions expressed are not investment advice. Do your research.
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