Litecoin Slumps to $166 Low, Shows No Strength below the $186 Resistance

[Rockalo]

Today, the price of Litecoin (LTC) fell below the 50-day line SMA while the altcoin fell to a low of $166. The downtrend will resume if the bears break the 21-day line SMA. The current selling pressure is due to the failure of the bulls to overcome the $186 resistance level.

Last week, Litecoin consolidated above the moving average for a potential breakout. Meanwhile, altcoin is moving above the $166 support, and it will continue its downward correction if the current support holds. On the other hand, the market will continue to fall to a low of $139 if the 21-day line SMA is broken. In the meantime, the LTC price is trading between the moving averages. More information please click here