Litecoin Price Don Slide Under $111 Support, Eyeing $107 and $92
Litecoin price don drop from recent highest $133 come dey below main support levels. After e no fit hold di 50-day simple moving average, Litecoin price comot below $111 on August 30, reach low of $110. Di next support dey for $107, if e continue fall e fit target di 2.0 Fibonacci extension around $92.48. Technical indicators show say LTC dey trade below both 21-day and 50-day SMA, wey dey confirm di bearish momentum. Immediate resistance dey for $116 and $120, while support dey for $107 and $100. Traders suppose dey watch volume and candlestick patterns near $107: if e break strong, e go confirm further downside risk, but if e bounce back above di moving averages, e fit mean say rally dey come.
Bearish
Di Litecoin price don fall under di 50-day and 21-day simple moving averages plus e don breach di important support levels for $111 and $107, dis one be sign say di bearish momentum go continue. Dis technical weakness mean say selling pressure don increase and e get high chance say Litecoin price go target lower Fibonacci extension levels near $92. Short-term traders fit see plenty risk for downside, with key watchpoints at $107 and $100. For longer term, to change sentiment, e go need make sure say price rebound above di moving averages, but di current on-chain volume and candlestick patterns still dey support negative outlook.