Litecoin (LTC) Drops After Rejection From $185

[Rakin343]

The Litecoin (LTC) price has been decreasing since it reached a high of $185 on Jan. 10.

The short and long-term time-frames suggest that LTC is still correcting, having not yet reached a low.
Litecoin Drops After Rejection
LTC has been moving downward since Jan. 10, when it reached a high of $185. LTC dropped sharply the following day but gradually moved upwards before another drop on Jan. 21.

Technical indicators are decisively bearish since the MACD has crossed into negative territory, the Stochastic Oscillator has made a bearish cross, and the RSI has dropped below 50.

If LTC continues falling, the closest support areas are $113 and $96, the 0.5 and 0.618 Fib retracement levels of the entire upward movement beginning from Sept. 2020. This is the portion of the move that hasn’t yet retraced.

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