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Litecoin Price Analysis: LTC/USD narrowing range block subject to explosive breakout

  • Litecoin price is trading in positive territory by 7.50% in the session on Monday. 
  • LTC/USD has been pushing south for two consecutive weeks, with bears in control.
  • The 2020 gains at risk of a reversal, which has been the case since the bearish evening star formation. 
Litecoin Price Analysis: LTC/USD narrowing range block subject to explosive breakout
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

The next critical weekly support should be noted at the psychological $50 mark. 

LTC/USD daily chart

Market bears have firmly been in control and picked up pace following a critical trend line breach. 

Spot rate:                58.82

Relative change:    +7.50%

Hgh:                         62.27

Low:                         57.27

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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