Litecoin
I tried to overcome above $ 88 during the negotiation session on Monday, but found a sales wall near that level.
Since then, the Token has retired to $ 85.21, 3.17% from the session peak and 1.5% in the last 24 -hour period. That stumbling fold erased the thin profits of the week and established a new line in the sand for bulls.
The fall came at a time when Bitcoin
It has been its increase in dominance, while its volatility fell below the 40 mark in a possible incoming action sign.
General description of the technical analysis
The price of Litecoin swing significantly in the last 24 -hour period, covering a range of $ 3.05 or approximately 3.5%. The Token found a strong resistance between $ 88.00 and $ 88.42, where sellers intervened largely, particularly during the night negotiation hours, according to the technical analysis data model of Coindesk Research.
After reaching a maximum point, LTC reversed lower and found a new support at $ 85.37. The most pronounced fall was accompanied by the highest commercial volume of the session of more than 180,000 tokens, indicating a strong bearish feeling.
Short -term trade saw additional volatility. In the last negotiation hours, LTC increased from $ 85.65 to $ 86.05, a jump of 0.47%, in an explosion of purchases. But the impulse was quickly reversed, returning prices to $ 85.53 in another volume increase.
This cemented resistance about $ 86.05 and reinforced the new support level at $ 85.37, leaving Litecoin at $ 85.42 when the session ended. The merchants are observing these levels closely in search of clues on whether the asset will recover or slide lower in the next few days.
