Litecoin Price Analysis: LTC looks like it might break out of a key hourly trendline ahead of 40.00
|- Litecoin is trading 0.90% higher high on Tuesday after rising on Monday.
- There is a trendline on the hourly chart that looks like it might be taken out.
LTC/USD 1-hour chart
Litecoin is looking positive on Tuesday despite some pretty lacklustre volume. The market recently found some support at the 37.00 mark and looks like it is now heading to the psychological 40.00 level. If the price does reach that level then it would mean it would need to take out the black trendline. A break of this trendline could indicate the LTC/USD pair may move to higher levels. The green resistance point of 44.00 is the main target for the bulls and under that 41.00.
On the downside, there are two key levels of support just incase the price does move lower. Just above 37.00 there is the blue trendline which has been respected already as you can see on the chart. Beyond that, the purple 35.00 level is the main support and it would take some sell-off from here to hit that level.
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Additional levels
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