Litecoin price retests – Analysis - 07-09-2018

Litecoin price shows some slight bullish bias to approach retesting the previously broken support of the minor bullish channel that appears on the chart, as the price is affected by stochastic positivity, but we notice that the EMA50 continues to press negatively on the price, to keep the bearish trend suggested in the upcoming period, which its next target located at 40.00.

Note that breaching 70.00 will stop the expected decline and lead the price to achieve gains that start at 80.00.

Expected trading range for today is between 50.00 support and 60.00 resistance

Expected trend for today: Bearish