Litecoin cryptocurrency last week saw a significant drop that led to the creation of local minima in the price region of 120 USD. From this area, we could observe a rebound, but it was not very dynamic, which still suggests the pressure of the sellers.
Currently, from the point of view of slightly lower time intervals, we can designate two most important demand zones, which are located in the vicinity of levels of 175 and 155 dollars. In the event of their breakthrough, the risk of continuing declines increases to at least around the round level of 100 USD.
The nearest resistance for buyers at the moment is the area of 210 USD, which is defined on the principle of changing poles. Its defeat should boost demand to at least level 280 USD.
Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice.
