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14.09.2021: Forex Analysis & Reviews: Litecoin Under Massive Pressure After Fake Walmart News!
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Litecoin stands above 180.00 psychological level at 180.39. It's trading in the red after climbing as much as 188.88 level today. As you already know, LTC/USD increased as much as 237.88 in yesterday's trading session after fake news announcing a partnership between Walmart and Litecoin.

Fundamentally, the pressure is high after yesterday's controversy. It remains to see how the price of Litecoin will react during Walmart's investigation. Technically, LTC/USD hovers right above critical dynamic support.

LTC/USD Imminent Downside Movement!

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Litecoin registered a false breakout with great separation through the 232.64 higher high in yesterday's session. It seems undecided and it continues to stay above the ascending pitchfork's lower median line (LML).

Making a valid breakdown through the lower median line (LML) could activate and announce a potential downside movement towards the 150.00 psychological level.

Forecast!

Litecoin could extend its downside movement, the sell-off if it drops and stabilizes below the lower median line (LML). Its failure to reach the upper median line (UML) signaled exhausted buyers.

So, a valid breakdown below the dynamic resistance, LML, could also bring short opportunities. Still, in the short term, we cannot exclude a temporary growth before activating a strong drop.

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
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