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.
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
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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