Litecoin price activates the negative pattern – Analysis - 28-12-2018

Litecoin price succeeded to break the neckline of the head and shoulders’ pattern mentioned yesterday, to rally downwards strongly and begin testing the key support 27.74 that forms 61.8% Fibonacci correction level for the last bullish wave, waiting to surpass this level to confirm opening the way to achieve our waited negative targets, which begin at 25.65 and extend to 22.30.

Therefore, we will continue to suggest the bearish trend in the upcoming sessions conditioned by the price stability below 31.10.

Expected trading range for today is between 24.00 support and 30.00 resistance

Expected trend for today: Bearish