LTC Sideways Trading Continues As We Approach Triangle Apex
bitcoinschannel.com
Litecoin saw a 3.5% price drop over the past 24 hours of trading which was largely caused by the fact that Bitcoin also dropped by the same amount. A break beneath this triangle could see Litecoin headed back toward the $30 level and it is likely to occur if Bitcoin continues to drop over these next few days.
Analyzing the daily chart above, we can see Litecoin trading within the confines of the ascending triangle. However, the RSI is trading beneath the 50 level and it looks like that the sellers will be increasing their momentum over the next few days which will certainly result in Litecoin falling beneath the triangle.
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