TRENDING:
Trade War
XAU/USD
Silver
EUR/USD
GBP/USD
USD/CAD
AUD/USD
Sponsored by
Login
|

Litecoin price analysis: LTC/USD bulls are attempting to breakdown a critical barrier, $116-118

  • Litecoin price in the latter part of trading on Wednesday is holding gains of some 2%.
  • LTC/USD bulls are trying to breakdown a heavy supply barrier tracking from $116-118 range.
Litecoin price analysis: LTC/USD bulls are attempting to breakdown a critical barrier, $116-118
Ken ChigboKen ChigboIndependent Analyst

Litecoin price in the latter stages of trading on Wednesday is trading within minor gains of 2%, somewhat outperforming in comparison to its peers. LTC/USD bulls are trying to breakdown a critical barrier of resistance.

LTC/USD is holding minor gains, however still somewhat within consolidation mode, working down supply $116-118. The price has not comfortably traded above this region since June 2018, proven its significance

Should the bulls manage to breakdown the above-noted supply area, bulls may be provided some room to the next major zone of interest, $150. The price last traded up at the noted heights back in May 2018.

LTC/USD 60-minute chart

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.

More from Ken Chigbo
Share:

Editor's Picks

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.

Stellar Price Forecast: XLM risks deeper losses as derivatives metrics turn negative

Stellar Price Forecast: XLM risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

Aave Price Forecast: AAVE tests channel resistance as ParaFi Capital deposit, bearish derivatives data caps upside

Aave Price Forecast: AAVE tests channel resistance as ParaFi Capital deposit, bearish derivatives data caps upside

Aave (AAVE) trades around $120 on Tuesday, testing the channel resistance, signaling that sellers remain active in the zone. Lookonchain data shows that ParaFi Capital transferred 42,000 AAVE tokens to Coinbase Prime over the past 10 hours, often interpreted as a potential selling signal.

CME Group's futures suite now covers over 75% of total crypto market cap

CME Group's futures suite now covers over 75% of total crypto market cap

CME Group announced that its crypto futures offering now covers over 75% of the total digital asset market cap, following the launch of its Cardano (ADA), Chainlink (LINK) and Stellar (XLM) products.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.