Coinmarkets

Coinmarkets

Litecoin (LTC) broke lower along with everything else last week after finding strong resistance at a sharply declining 50-day simple moving average. At this point, the downside that we’ve seen over the last 48 hours is starting to become persistent and dramatic enough that the one bullish factor this chart had in its favor is beginning to melt away: the bullish divergence found on the 14-day RSI measure when compared with the pivot low scored on the charts in late June. If momentum persists, look for the next major challenge to be at support at the $55 level.
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