Litecoin price after a major decline found support above $135 against the US Dollar. LTC/USD is correcting higher sharply and is currently above $150.

There were nasty declines this past week from well above $175 in litecoin price against the US dollar. The LTC/USD pair tumbled and traded below a few important support levels such as $160 and $150.

The downside move was aggressive as the price even traded below the $140 level. A low was formed near $137.05 from where the price started an upside correction.

It moved higher and broke the 38.2% Fib retracement level of the last drop from the $172 high to $137 low. More importantly, there was a break above a major bearish trend line with resistance at $141 on the hourly chart of the LTC/USD pair.

The pair is now well above the $150 level is currently trading in a positive zone. However, there is a crucial barrier for buyers near the $158 and $160 resistance levels. Read more from…

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