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Litecoin Price Analysis: LTC/USD technical correction to make way for bigger bulls

  • Litecoin price is trading in negative territory by 0.20% in the session on Thursday. 
  • LTC/USD has retested a critical area of support seen at $77 via the daily. 
  • A minor pullback is being observed following such a dominating run higher. 
Litecoin Price Analysis: LTC/USD technical correction to make way for bigger bulls
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

LTC/USD is flirting with a prior top area, that had contained the price from 8-11 February, acting as new support. 

LTC/USD 60-minute chart

An important near-term ascending trend line of support is keeping the price propped up and preventing a free-fall. 

Spot rate:               81.28

Relative change:    -0.20%

High:                        84.42

Low:                         77.25

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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