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LTC/USD is trading at 88.50 at the time of writing. After its massive drop, the altcoin rebounded. In the short term, it seems undecided, that's why we have to wait for fresh trading opportunities.
Litecoin dropped by 4.38% from yesterday's high of 91.46 to 87.45 today's low. In the last 24 hours, the altcoin is down by 0.93% and by 0.77% in the last 7 days.
Technically, it's trapped between 85.66 and 91.46 levels in the short term. As you can see on the H4 chart, LTC/USD tested and retested the uptrend line, registering only false breakdowns.
As long as it stays above this dynamic support, the altcoin could jump higher. The price registered false breakdowns below the weekly pivot point (86.92) and under the median line (ml) as well indicating that the downside movement ended.
A new higher high, a bullish closure above 91.46 activates further growth and is seen as a bullish signal.
On the contrary, a valid breakdown below 85.66 and below the median line (ml) activates more declines.
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