LTCUSD now oversold
Litecoin is still under bearish pressure in early Friday trade after the fifth-largest cryptocurrency looks set to close the month of August heavily in the red. The LTCUSD pair is approaching its bearish target, while the RSI indicator is now oversold on the daily time frame. Overall, the LTCUSD pair is likely to become an attractive short-term buy if the cryptocurrency starts to find a meaningful price floor.
The LTCUSD pair is only bullish while trading above the $80.00 level, key resistance is found at the $92.00 and $100.00 levels.
If the LTCUSD pair trades below the $70.00 level, key support is found at the $65.00 and $55.00 levels.