Litecoin Price Analysis: LTC/USD has the potential to breakout higher
|- Litecoin price late on Friday is trading with decent gains of some 2%.
- LTC/USD price action has constructed a bullish flag pattern, subject to a breakout.
Litecoin price is seen holding decent gains of some 2.15% in the latter part of the day on Friday. Price action is moving within a bullish flag pattern formation, subject to a possible extended move to the north.
LTC/USD price action as noted above has constructed a bullish flag pattern formation. This begun to take shape after the strong surge north on 8th February, one that was seen across the cryptocurrency market.
Should the bulls manage to capitalize on the bullish flag structure, then another wave of buying pressure will likely be seen. The next upside target is eyed at the psychological $50 price territory. LTC/USD hasn’t been up at these heights since 14th November 2018. Support can be observed tracking at $40 mark, the lower trend line that makes up the detailed flag.
LTC.USD 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.