Litecoin Selling Pressure May Close Above $40, Here's Why

[MRM]

Yesterday,  September 3, Litecoin (LTC) price plunged to $44 low after facing rejection at $64 resistance. On August 30, the coin had earlier rebounded above $56 to break the $64 resistance.

Nevertheless, after a second retest at the resistance, the coin dropped to the current low at $44. The crypto is now in the bearish trend zone.

Litecoin Price Long-Term Prediction: Bearish
LTC is vulnerable to fall at this level. However, if the selling pressure persists; the coin will reach a low of $39. Conversely, buyers have to push the coin above $60 or above the EMAs for uptrend resumption. Otherwise, Litecoin will be compelled to a range-bound movement between $44 and $60. In the meantime, LTC is fluctuating above the $44 support.
Source: https://coinidol.com/ltc-price-pressure-close/