Resistance: $165, $160, $155                                                                                                                             From the weekly chart Litecoin has broken the support level at $160 and the asset is trading above the $150 price level. A bearish trend line is drawn across the price bars showing the resistance levels where traders can short their trades.

In a downtrend, we are expected to take short trades; therefore, as price continues to fall, the pullbacks will touch the bearish trend line. These are resistance levels where we can take short trades.

If price breaks again the support level at $150, price of Litecoin will find support at $144. On the daily chart, Litecoin is in a smooth downtrend.

From a price of $165, the asset moved in a systematic downward fall to a low of $153. The 20-day moving average and 50-day moving average are trending southward. Read more from cryptoglobe.com…

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