Technical analysis of Litecoin for November 17, 2021

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Litecoin faced bearish pressure, dropping by 19% from last week's peak of 295.80. We are sure that bulls find it irritating. Only a break below short-term key support of 140 will flip the bias from bullish to temporary bearish.

So as long as key support at 140 is able to protect the downside, a break above minor resistance at 245 and 281.32 may occur. If so, it will confirm a new rally to the Cup with Handle resistance near 376.





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Torben Melsted
Analytical expert of InstaForex
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