Litecoin is starting to trade back towards the $140.00 level, following yesterday’s heavy sell-off towards the psychological $100.00 level. Technical analysis shows that gains about the $140.00 level could cause a reversal back towards the $185.00 resistance level. To the downside, failure to hold the price above the $140.00 level could cause a decline towards the $85.00 area.
The LTCUSD pair is only bullish while trading above the $140.00 level, key resistance is found at the $185.00 and the $200.00 levels.
If the LTCUSD pair trades below the $140.00, sellers may test the $120.00 and $100.00 support levels.
