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Litecoin: Price Analysis, December 1

LTC/USD

Litecoin remains in a downtrend, with both the moving averages trending down and the RSI in the negative territory. The pullback stalled just above the $36 levels, which shows a lack of buying at higher levels.





LTC/USD




The bears will attempt to make a new year-to-date low, while the bulls will try to defend the current lows. If the bears succeed, the LTC/USD pair can correct to $20 levels.

However, if the bulls use the current fall to buy and form a higher low, it will indicate strength. The digital currency will show first signs of a trend change, if it sustains above the downtrend line. Until then, it remains vulnerable to a bear attack.

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2 comments

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