Litecoin Price Technical Analysis – Monster Trend Line Resistance

[Blawpaw]

Litecoin Price Technical Analysis – Monster Trend Line Resistance

"Litecoin’s price after trading as low as $3.46 managed to recover from losses, and corrected higher. However, there is a monster barrier formed near $3.55-60 for buyers, which is acting as a hurdle and preventing more gains. There is a confluence resistance area formed around the stated level. A bearish trend line on the hourly chart with data feed from HitBTC and the 38.2% Fib retracement level of the last drop from the $3.79 high to $3.46 low are positioned around $3.55-60."

http://www.newsbtc.com/2016/01/04/litecoin-price-technical-analysis-monster-trend-line-resistance/