Litecoin: Price Analysis, October 12

LTC/USD

From the midpoint of the range, Litecoin has declined to the bottom of the range of $49.466–$69.279. A break of the support can resume the downtrend and push the price towards the next support at $40.




LTC/USD




The bulls are currently trying to bounce from close to the $50 mark. $60 will continue to act as a resistance on the upside.

The LTC/USD pair will show strength if it can sustain above $69.279. Until then, volatile trading inside the range is likely.

The aggressive investors can wait for today’s close and buy a small quantity with the stops below $47. A conservative investor should wait for the break out of the range before attempting a buy.

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