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Litecoin continues to move sideways in the short term and it seems undecided. It's located at 63.76 at the time of writing. It has changed little as BTC/USD seems undecided as well. Still, the downside pressure is high as the bearish bias remains intact.
Litecoin is down by 1.59% in the last 24 hours and is up by 0.45% in the last 7 days. In my opinion, Bitcoin's growth could help the altcoin to come back higher as well.
LTC/USD is trapped between 65.88 and 62.79 levels. It was about to reach and retest the downtrend line which represents an upside obstacle.
As long as it stays below it, Litecoin could develop a new sell-off. False breakouts through this dynamic resistance signals a deeper drop.
A new lower low, a bearish closure below 62.79 activates more declines and could be seen as a selling signal.
Taking out the resistance levels, jumping and closing above the downtrend line and above 65.88 indicates a larger growth.
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