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Litecoin Price Analysis: LTC/USD bulls are here to stay with $50 the game-changing barrier in sight

  • Litecoin price is trading in positive territory by 3.35 % in the session on Monday. 
  • LTC/USD narrowing has been observed as the price consolidates. 
  • There is a critical area of resistance just ahead at $45-46, a gateway for the $50 return.
Litecoin Price Analysis: LTC/USD bulls are here to stay with $50 the game-changing barrier in sight
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

The bulls forced another closure in the green for the week, making it five consecutive. 

LTC/USD daily chart

The price has been enjoying a consecutive run higher, however, has seen some narrowing over the last going on three sessions. It could very well be consolidation ahead of further bull commitment. The upside barriers to note are $45-46 and then $50. There does, however, remain the small risk of a daily flag structure. 

Spot rate:               43.41

Relative change:  -2.35%

High:                      45.25

Low:                       43.20

LTC/USD

Overview
Today last price43.5794
Today Daily Change-1.0456
Today Daily Change %-2.34
Today daily open44.625
 
Trends
Daily SMA2042.8601
Daily SMA5040.9631
Daily SMA10054.0243
Daily SMA20052.2421
 
Levels
Previous Daily High45.3822
Previous Daily Low43.8111
Previous Weekly High44.9877
Previous Weekly Low39.5557
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%44.782
Daily Fibonacci 61.8%44.4113
Daily Pivot Point S143.8301
Daily Pivot Point S243.0351
Daily Pivot Point S342.259
Daily Pivot Point R145.4011
Daily Pivot Point R246.1772
Daily Pivot Point R346.9721

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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