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Litecoin Price Analysis: LTC/USD bull flag breach attractive greater buying confidence

  • Litecoin price is trading in positive territory by 3.35 % in the session on Wednesday. 
  • LTC/USD can see another strong wave of buyers once April highs are broken. 
  • The next major barrier to the upside should be noted at $47.50, $50 and then $62. 
Litecoin Price Analysis: LTC/USD bull flag breach attractive greater buying confidence
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Daily price action is edging out of a bullish flag structure, inviting further bull pressure. 

LTC/USD 60-minute chart

A big bullish pennant breach to the upside allowed for further buying participation, inviting a strong wave of buyers. 


 

Spot rate:               46.95

Relative change:  +2.60%

High:                      47.92

Low:                       45.70

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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