Litecoin price faces negative pressure – Analysis - 14-06-2019

Litecoin price trades negatively since yesterday to move below the main bullish channel’s resistance, and we believe that the price retraces the rise that started at 98.05, as it approaches testing 38.2% Fibonacci correction level at 126.30, and the price needs to hold above this level to keep the chances valid to resume the bullish trend in the upcoming sessions.

Stochastic reaches the oversold areas now, while the EMA50 provides continuous positive support to the price, therefore, these factors encourage us to suggest the bullish bias on the intraday and short term basis conditioned by the price stability above 126.30, which its next main target located at 158.50.

The expected trading range for today is between 126.00 support and 145.00 resistance

The expected trend for today: Bullish