LTCUSD more weakness likely

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Litecoin continues to trade at multi-month lows, with LTCUSD pair remaining at risk of a deeper decline towards the $36.00 level. Sustained LTCUSD weakness below the $50.00 level remains the trigger for a decline towards at least the $40.00 support area . Overall, medium to longer-term dip-buyers may return once the overall downside objective of $36.00 is reached.

• If the LTCUSD pair trades below the $50.00 level, key support is found at the $40.00 and $36.00 levels.
• If the LTCUSD pair trades above the $50.00 level, key resistance is found at the $55.00 and $57.00 levels.


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