Litecoin: Price Analysis, April 09

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LTC/USD

Litecoin held the first support level of $114.706 but its recovery attempt stalled at $126. It could not even reach the downtrend line 1. The 20-day EMA is also located close to this line.




LTC/USD




If the bears break below $114.706, the LTC/USD pair can fall to $107.102, which is a February 02 low. This should act as a strong support but if this also breaks, the next support on the downside is at $84.706.

First signs of a change in trend will be when the digital currency breaks out and sustains above the downtrend line 1.

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