Litecoin price recovered nicely from the $160 swing low against the US Dollar. LTC/USD is currently trading in a range above the $180 support.

After a major decline, there was a decent support formed near $160 in litecoin price against the US dollar. The LTC/USD pair traded as low as $158 and started an upside move.

It traded higher and broke the $175 and $180 resistance levels. The upside move was strong as the price even managed to settle above the $180 level and the 100 hourly simple moving average.

It even moved a few points above $190 and formed a high at $193.70. Later, the price started a downside correction and moved below the 23.6% Fib retracement level of the last wave from the $190 low to $193 high.

The downside move seems to be limited by the $180 support and the 100 hourly simple moving average. There is also a key bullish trend line forming with support at $181 on the hourly chart of the LTC/USD pair. Read more from…

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