Litecoin continues its recent long-term downtrend on Friday, with the ninth largest cryptocurrency by market capitalization falling to a new yearly trading low, of $21.30. Short-term bulls have been unable to establish a clear trading bottom, with price still creating bearish lower lows. A test of the $20.00 support level seems inevitable as the broader cryptocurrency market remains under heavy selling pressure.
The LTCUSD pair is strongly bearish while trading below the $25.00 level, key support is found at the $20.00 and the $17.80 levels.
If the LTCUSD pair moves above the $25.00, buyers will be encouraged to test the $27.50 and $30.00 resistance levels.
