Litecoin price faces negative pressure – Analysis - 06-02-2019

Litecoin price opens today’s trading with strong negativity to reach the intraday bullish channel’s support line that appears on the chart, and as long as the price is above this channel’s support –located at 32.00-, the bullish trend scenario will remain active, which targets 35.00 followed by 40.00 levels mainly.

We should note that breaking 32.00 will form strong negative factor that we expect to press on the price to break the key support 29.55 followed by opening the way to return to the bearish trend on the short term basis.

The expected trading range for today is between 31.00 support and 35.00 resistance

The expected trend for today: Bullish