• Litecoin price is facing resistance near the $160 zone against the US Dollar.
• LTC price is now trading above $155 and the 55 simple moving average (4-hours).
• There is a major bearish trend line forming with resistance near $160 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
• The pair could start a fresh increase if it breaks the $160 resistance zone.

Litecoin price is consolidating below $160 against the US Dollar, similar to bitcoin. LTC price could resume lower if it breaks the $145 support zone.

Litecoin Price Analysis

This week, there was no major upward move in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $165 resistance zone and started a fresh decline.

There was a break below the $160 and $155 support levels. The price even spiked below the $150 support and the 55 simple moving average (4-hours). A low was formed near the $142 level and the price is now consolidating losses.

There was a move above the $150 level. Litecoin even traded above $155 and the 55 simple moving average (4-hours). It is now facing resistance near the $160 zone.

There is also a major bearish trend line forming with resistance near $160 on the 4-hours chart of the LTC/USD pair. The trend line is close to the 23.6% Fib retracement level of the downward move from the $220 swing high to $141 low.

A clear move above the $160 level could pump the price. The next key resistance could be $180. It is near the 50% Fib retracement level of the downward move from the $220 swing high to $141 low.

On the…