Litecoin Price Analysis: LTC/USD Drops To New 2018 Low Near $40

Litecoin price collapsed and traded below the $44.00 support against the US Dollar. LTC/USD traded close to $40.00 and it remains in a major downtrend.

Key Talking Points

Litecoin price is under a lot of selling pressure below the $44.00 support (Data feed of Kraken) against the US Dollar. There is a short term descending triangle forming with resistance at $42.50 on the hourly chart of the LTC/USD pair. LTC price remains at a risk of more losses towards the $40.00 and $30.00 levels....

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