Litecoin
Tried to turn over $ 88 during Monday’s trade session, but met a wall of sales orders near this level.
The token has since withdrawn to $ 85.21, down 3.17% since the top of the session and 1.5% in the last 24-hour period. This stumble deleted the slim winnings of the week and put a new line in the sand to bulls.
The drip came at a time when Bitcoin
has been its dominance increase, while its volatility fell below the 40 -mark in a potential sign of incoming action.
Overview of Technical Analysis
Litecoin’s price swung significantly during the last 24-hour period and covered a $ 3.05 series or approx. 3.5%. The token encountered fierce resistance between $ 88.00 and $ 88.42, where sellers stepped in strongly, especially in late evening trade, according to Coindesk Research’s technical analysis data model.
After topping, LTC turned lower and found new support for $ 85.37. The steepest fall was accompanied by the session’s highest trading volume of over 180,000 tokens, signaling a strong bearish atmosphere.
Short -term trade experienced further volatility. In the last few hours of trade, LTC ranged from $ 85.65 to $ 86.05, a 0.47% jump, on a burst of purchases. But Momentum quickly turned and sent prices back to $ 85.53 on another volume.
This cemented resistance near $ 86.05 and reinforced the new support level to $ 85.37, leaving Litecoin for $ 85.42 when the session ended. Dealers look closely at these levels of clues as to whether the asset will arrange an improvement or slip lower in the coming days.
