Litecoin Price: Is an Upward Correction Imminent?

The litecoin price is facing the bullish effect that is haunting the bitcoin market over the few last days. LTC/USD dropped below $1.70, but bulls came to the rescue quickly.
Hours after the low of $1.69 was hit, buying pressure pushed the litecoin price closer to the levels reached before today’s crash. LTC/USD currently trades close to $1.73 while the market is still heavily pressured by large sell orders.
Lower volume and resistance
While we did see some decent resistance at the $1.70 level today, the volume is still down. Although the resistance at the previous lows is visible, not many upward spikes are to be expected before the volume rises to greater levels again.

This post was published at NewsBTC on February 12, 2015.

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