Litecoin Price Analysis: LTC/USD narrowing range block subject to explosive breakout
|- Litecoin price is trading in positive territory by 7.50% in the session on Monday.
- LTC/USD has been pushing south for two consecutive weeks, with bears in control.
- The 2020 gains at risk of a reversal, which has been the case since the bearish evening star formation.
LTC/USD weekly chart
The next critical weekly support should be noted at the psychological $50 mark.
LTC/USD daily chart
Market bears have firmly been in control and picked up pace following a critical trend line breach.
Spot rate: 58.82
Relative change: +7.50%
Hgh: 62.27
Low: 57.27
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.