Litecoin Technical Analysis Report 22 June, 2021

• Litecoin under bearish pressure
• Likely to fall to support level 100.00

Litecoin under the immense bearish pressure after this cryptocurrency broke the two consecutive strong support levels: round support level 150.00 (which reversed the price in May and also at the start of June) and then the support level 117.70 (which reversed this cryptocurrency multiple times in January). The breakout of these support levels accelerated the active impulse wave C.

Given the widespread deterioration of the risk sentiment across the cryptocurrency markets due to the fears will impose stricter controls on cryptocurrency mining and exchanges – Litecoin can be expected to fall further toward the next round support level 100.00 (the last time it was touched in December).

Was this post helpful?