27 Jun 2018
Litecoin has started a fresh downside move and has declined below the $78 support. Could the price continue to move down below the $74.00 level in the near term? What does today's 27 June Litecoin Price Technical Forecast reveal?
27 June, GKFX – Litecoin is changing hands at $76.22, unchanged since the beginning of the day and down 6% on daily basis amid another wave of bearish momentum on global cryptocurrency market.
Litecoin's market value is registered at $4.3B with average trading volume at $260M, which is substantially lower from $400M on Tuesday. Litecoin lost about $1B of its value in just a week.
Over the past 24 hours, crypto markets lost another $12 billion, sliding from $255 to $243 billion as traders tend to see their glass half empty. Facebook partially lifted crypto advertising ban, but the industry merely noticed it.
Litecoin's intraday picture is dominated by bearish signals. The price stays deep below hourly MAs with the first strong resistance area located at $80.00-$80.50 and followed by $87.7 (200-SMA, hourly chart).
While the ultimate bullish goal is still at $90.00, the chances to get there are slim. On the downside, the support is created by $74.00. Once it is broken, $73.33 will come into focus.
LTCUSD, the hourly chart
This article 27 June Litecoin Price Technical Forecast was provided by GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
If such information is acted upon by you, then this should be solely at your discretion, and GKFX will not be held accountable in any way.