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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.

Ken Chigbo Independent 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 price	43.5794
Today Daily Change	-1.0456
Today Daily Change %	-2.34
Today daily open	44.625

Trends
Daily SMA20	42.8601
Daily SMA50	40.9631
Daily SMA100	54.0243
Daily SMA200	52.2421

Levels
Previous Daily High	45.3822
Previous Daily Low	43.8111
Previous Weekly High	44.9877
Previous Weekly Low	39.5557
Previous Monthly High	63.9927
Previous Monthly Low	24.9467
Daily Fibonacci 38.2%	44.782
Daily Fibonacci 61.8%	44.4113
Daily Pivot Point S1	43.8301
Daily Pivot Point S2	43.0351
Daily Pivot Point S3	42.259
Daily Pivot Point R1	45.4011
Daily Pivot Point R2	46.1772
Daily Pivot Point R3	46.9721

Author

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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LTC/USD weekly chart

LTC/USD daily chart

LTC/USD

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