Litecoin
tried to strike above $ 88 during the negotiation session on Monday, but met a wall of sales orders near this level.
The token has since retired to $ 85.21, down 3.17% from the peak of the session and 1.5% in the last period of 24 hours. This triple has erased the thin gains of the week and put a new line in the sand for bulls.
Gout came at a time when Bitcoin
was its increase in domination, while its volatility fell below brand 40 in a potential sign of incoming action.
Preview of technical analysis
The price of Litecoin swung considerably during the last period 24 hours a day, covering a range of $ 3.05, or about 3.5%. The token encountered strong resistance between $ 88.00 and $ 88.42, where the sellers intervened, especially during the negotiation hours at the end of the evening, according to the Technical Analysis Data model of Coindesk Research.
After culminating, the LTC reversed the drop and found a new support at $ 85.37. The most steep drop was accompanied by the highest trading volume in the session of more than 180,000 tokens, signaling a strong lower feeling.
Short -term trading has experienced additional volatility. During the last hours of negotiation, the LTC increased from $ 85.65 to $ 86.05, a jump of 0.47%, on a burst of purchase. But Momentum quickly reversed, returning prices to $ 85.53 to another peak volume.
This resistance cements nearly $ 86.05 and strengthened the new level of support at $ 85.37, leaving Litecoin to $ 85.42 at the end of the session. The merchants look at these levels closely for clues that the asset will stage recovery or slide below in the coming days.
