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My June 27 Litecoin price analysis
Litecoin bounced back from the resistance line of the descending channel on June 24 and reached the moving averages.
The long tail on the June 24-26 candlestick indicates that the bulls are buying dips to the 50-day SMA ($85). Buyers will try to push the price towards the resistance line of the channel which remains the key resistance to watch out for.
If the bulls clear this hurdle, the LTC/USDT pair could start a rise towards $105.
On the contrary, if the price continues to decline and dips below the moving averages, it will show that the bears have the upper hand. The pair could then drop to $76 and later to the support line of the channel.
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