Litecoin price draws a negative pattern – Analysis - 21-01-2019

Litecoin price trades near 30.00 barrier, and by taking a deeper look at the chart, we find that the price draws head and shoulders’ pattern that its confirmation line located at 29.55, therefore, breaking this level will form strong negative motive that supports the expectations of continuing the bearish trend on the short term basis, as our next target is located at 27.45.

Therefore, we will continue to suggest the bearish trend conditioned by the price stability below 33.10, noting that breaking the targeted level will push the price towards 24.00 as a next main station.

Expected trading range for today is between 27.45 support and 32.00 resistance

Expected trend for today: Bearish