Litecoin price breaches the resistance – Analysis - 10-09-2019

Litecoin price opens today’s trading positively to breach 70.00 level and attempts to settle above it, providing signals for heading towards achieving potential gains in the upcoming sessions, but we notice that it faces the bearish channel’s resistance now, which might stop the current rise and presses on the price to decline again.

Therefore, the contradiction between the technical factors makes us prefer staying aside until getting clearer signal for the next trend, pointing that breaching 74.00 will confirm the continuation of the bullish bias to visit 84.60 level as an initial positive target, while breaking 70.00 and trading below it again will reactivate the bearish trend scenario that its next main target is located at 52.00.

The expected trading range for today is between 65.00 support and 77.00 resistance

The expected trend for today: Neutral