Earlier today, the Litecoin (LTC) price attempted a high momentum breakout from the overhead resistance. A 36% boost in volume indicated the buyers’ interest in a prolonged price recovery. However, by the press time, the altcoin currently trades at $69 and struggles above the resistance trendline. Thus, a high price rejection at this resistance indicates sellers are actively grappling for trend control
key points from Litecoin price analysis
The Litecoin traders face high supply pressure at the channel pattern’s resistance trendline.
Oversold RSI reflects the need for a price correction.
The 24-hour trading volume in the Litecoin coin is $1.399 Million, marking a 37.5% hike.
Source-Tradingview
From Mid-June to the current time, the Litecoin price rally has shaped into a rising channel pattern. However, this bearish continuation pattern carries a temporary bull run and, in theory, leads to significant correction upon the breakdown of its support trendline.
Nonetheless, with the re
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