LTC tests 40.00 as the selling volume picks up

• Litecoin managed to fend off 40.00 for now but the bearish signals are still around. 
• The selling volume also increased and the RSI is also in a depressed territory.

LTC/USD 1-hour chart

Litecoin has been looking bearish on Monday as the price tested and printed below 40.00. The price is just about to test a previous support zone which could now act as resistance at 41.20. The price is also trading under both 55 and 200 moving averages which also had a bearish crossover. 

Looking at the indicators now the RSI has moved into bearish territory and this is after hitting oversold conditions recently. The volume has also picked up as the selling kicked in indicated by the circle on the volume histogram below. 40.00 will now be the main level of support that needs to be watched. 

Additional levels