Litecoin Moves back into the Red

Litecoin had a promising start to the day on Saturday, gaining 4.4% in the early hours of the day, to hit an intraday high $194.47. But that was all the bulls had to offer in what was yet another negative day for the cryptomarkets.

Litecoin went into reverse, sliding 11.4% from the day’s high to an intraday low $172.3, before closing out the day down 4.57% to $177.8.

That’s the 2nd time in three days that Litecoin has closed at sub-$180 levels and the 4th consecutive day on which Litecoin failed to hit $200 levels.

The only good news for Litecoin investors for now is that support levels were not tested on Saturday, in spite of the day’s slide, though resistance levels were also untested through the day.

For the day ahead, the bearish trend has continued, with Litecoin down 0.91% to $176.06 at the time of writing.

An early move to a morning high $179.6 reversed and it’s been largely lateral since recovering from a morning low $172.3.