Litecoin (LTC) Technical Analysis: Battling To Return to $50, Bearish Continuation Likely

Litecoin bulls are under considerable pressure today as LTC finds itself back around the psychological $50 area. Last week’s announcement that Coingate has now become the official payment processor for Litecoin failed to attract new investment; leaving the asset searching for support as it continues to track inside a falling wedge pattern.

Will Litecoin be able to fight its way back on to the $50 level or will bears remain firmly in control this week? Let’s take a look.

Looking at the 1D LTC/USD chart right now we can see that the price action has recently fallen through the first support that we looked at in the video analysis. This was what we w…

This article appeared first on Cryptovest

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