Litecoin Heads toward Support at $43 amidst Breakdown

Litecoin Indicator Analysis 

The market is falling toward the downtrend line and a break below it will mean further depreciation. A bounce above the downtrend will mean an upward move. The EMAs are sloping southward meaning that price is falling. Litecoin appears to be approaching the oversold region of RSI period 14 levels 34. 

Key Supply Zones: $80, $100, $120

Key Demand zones: $50, $40, $20

What Is the Next Direction for Litecoin?

Litecoin is heading southward as the bears resume selling. All the indicators are showing bearish signals. As the market falls, it is important to watch the previous low at $43. If the bears break the low the coin will suffer further depreciation.

Disclaimer. This analysis and forecast are the personal opinions of the author are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds.