Litecoin approaches the first target – Analysis - 23-01-2018

Litecoin price resumed its negative trading after testing 198.26 level in the previous days, to approach our first waited target at 156.51 now, reminding you that breaking this level will push the price to head towards 89.02 as a next main station.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions unless breaching 198.26 level and holding above it, noting that the EMA50 and stochastic provide negative factors that support the expected decline.

Expected trading range for today is between 140.00 support and 200.00 resistance

Expected trend for today: Bearish