Litecoin Market Review

The market is going to break the uptrend line and 40.00 support level. It gives a signal of possible downward movement in borders of the descending price channel. The support zone formed by 36.00 and 34.00 levels can be a possible reversal zone. If the markets reaches this zone, we'll have to watch closely for price action. This support zone is very important for further price movement. If the market bounces from it, we'll get good confirmation for a new upward movement. But if price drops below this zone, we'll see downward movement to 30.00 support level at least or even lower. For confirmation the up trend we'll need a price breakout above the resistance line of the price channel. But before this the market will have to return above the uptrend line.