Litecoin price has lost -0.74% in the last 24H and we can see here in this 1-H chart how a symmetrical triangle pattern
is formed with the price still stuck in the central pivot point
around $79.20, very close to test the resistance and ready to make another move to the support.The 50 EMA
is also following the price as a dynamic resistance and the 100 SMA
keeps below the 200 EMA
, technically speaking this means that the selloff is more likely to resume than to reverse. My expectation is that a stronger selling pressure is coming and LTC/USD would probably break the support line of this triangle as well.