• Litecoin price is facing resistance near the $180 zone against the US Dollar.
  • LTC price is now trading below $180 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $180 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could start a fresh decline if it fails to stay above the $150 support.

Litecoin price is consolidating below $180 against the US Dollar, similar to bitcoin. LTC price could resume lower if it breaks the $150 support zone.

Litecoin Price Analysis

This week, there was a fresh decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. Earlier, LTC struggled to clear the $220 resistance zone and started a fresh decline.

There was a break below the $200 and $185 support levels. The price even dived below the $160 support and the 55 simple moving average (4-hours). A low was formed near the $141 level and the price is now correcting losses.

There was a move above the $150 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $220 swing high to $141 low. It is now trading below $180 and the 55 simple moving average (4-hours).

An initial resistance is near the $170 level. The next key resistance could be $180. There is also a major bearish trend line forming with resistance near $180 on the 4-hours chart of the LTC/USD pair.

The trend line is near the 50% Fib retracement level of the downward move from the $220 swing high to $141 low. A close above the $175 and $180 levels could open the doors for a…


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