FX.co ★ Litecoin: uptrend intact, 91.14 turns into support

LTC/USD dropped in the short term but this could be a short-lived one. It's trading at 89.71 at the time of writing and it seems very heavy. Still, the rate could only test and retest the near-term support levels before resuming its growth.

In the last 24 hours, Litecoin is down by 7.44% and by 0.56% in the last hour. Bitcoin's drop forced the altcoin to drop as well.

LTC/USD Temporary Drop?

Technically, the token is challenging the uptrend line which stands as a dynamic support. 91.14 turned into a downside obstacle. It remains to see how the rate will react after reaching the support levels.

As long as it stays above the uptrend line, it could resume its growth. 84.97 represents a downside obstacle as well.

LTC/USD Outlook!

False breakdowns below the uptrend line and below 91.14 may signal a new upside movement.