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Litecoin Price Analysis: LTC/USD bulls can use $40 as a rocket launch pad

  • Litecoin price is trading in positive territory by 1.55 % in the session on Friday. 
  • LTC/USD at present is edging towards another day in the green, which would mark the fifth.
  • The bulls have been gradually making attempts to break down supply within the early $40 price region. 
Litecoin Price Analysis: LTC/USD bulls can use $40 as a rocket launch pad
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

There is a gradual but promising looking path of recovery for Litecoin but will need to void the bearish flag structure viewable via the daily. 

LTC/USD 60-minute chart

Near-term price has breached a wedge structure, inviting some minor selling via the 60-minute. 

Spot rate:               40.49

Relative change:  +1.55%

High:                      41.28

Low:                       39.75

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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