Litecoin Price Analysis: LTC/USD bulls heading for game changing flag retest
- Litecoin price is trading in positive territory by 3.35 % in the session on Thursday.
- LTC/USD has extended to the upside, following the strong gains that come into play on Wednesday.
- The price is set for another critical test of a big area of resistance just ahead at $45-46.
LTC/USD daily chart
Bulls will now be pushing for a retest of the breached daily flag structure, the original breakout was observed on 13 April and a retest on 18 April.
LTC/USD 60-minute chart
Price action smashed out to the upside from a bull flag structure, inviting a fresh wave of upside momentum.
Spot rate: 43.41
Relative change: +3.35%
High: 44.00
Low: 41.03
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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