Litecoin price analysis: LTC/USD has room to retest all-time highs
- Litecoin price on Tuesday is in consolidation mode, nursing minor losses of just some 2.5%.
- LTC/USD via the weekly chart view has made a strong push above a chunky barrier of resistance, $90-100 range, leaving the door open to further potential moves north.
The Litecoin price in the latter part of the session on Tuesday is trading down some 2.5%, as the bulls ease off the upside pressure for now. LTC/USD in the session yesterday print the highest level seen since June 2018.
Looking via the weekly chart view, it is worth noting the significance of barrier the price has managed to push through. The closure via the weekly above resistance around $100 price area, is detrimental for further upside.
Given the noted technical development, there is room for the bulls to potential drive LTC/USD up towards a retest of the all-time-high, $375. Price action is somewhat reminiscent of the 2017 bull run, which drove LTC to the heights it achieved.
LTC/USD weekly chart
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.
