The litecoin cryptocurrency exchange rate is still moving as part of the side trend, the lower limit of which is located in the price region of 215 USD. This is a very important moment due to the fact that the possible breaking of the currently tested area may cause a deepening of declines.

Picture 1. Technical analysis, litecoin, H4,12.1.2018

In the event of a downward scenario, I expect that the range of movement will be implemented at least in the vicinity of a strong and tested support area located in the area of 160 USD for one litecoin.

Picture 2. Technical analysis,litecoin, M30,12.1.2018

From the point of view of the M30 time interval, we can determine the local confluence of the downward trend line and the level of resistance defined in the region of 235 USD. Breaking the indicated area will mean defending the lower limit of the side trend and the price will remain in consolidation.

Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice.

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