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Litecoin in a bearish channel, watch for the break of support!

Short
Litecoin (BITFINEX:LTCUSD)  
Tickmill Broker  
BITFINEX:LTCUSD   Litecoin
Trend Analysis Harmonic Patterns Chart Patterns litcoin LTCUSD ltcusdshort ltcusdlong ltcusdforecast litecoinidea litecoinlong litcoinshort crytpocurrency
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3
trendanalysis harmonicpatterns chartpattern litcoin ltcusd ltcusdshort ltcusdlong ltcusdforecast litecoinidea litecoinlong litcoinshort crytpocurrency

Litecoin is in a descending channel with first major support at 167.12 (Fibonacci retracement, horizontal swing low support). Only a break of this support could trigger a bearish move down to 140.49 support (Fibonacci extension, horizontal swing low support).

RSI (34) is in a descending channel similar to the one we’re seeing in price.

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This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
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