Litecoin Price Forecast: LTC/USD bulls made critical advance eyes now on $50

Litecoin price is trading in negative territory by 0.30 % in the session on Thursday.
LTC/USD bulls were able to push for a needed close above Tuesday’s bearish evening star closure.
The next major barrier to the upside for the bulls is viewable at the psychological $50 mark.

Ken Chigbo Independent Analyst

LTC/USD daily chart

The price had formed a bearish evening daily star on Tuesday, which is an indication of an incoming change in trend. Should the bulls have closed below this, it would have invited greater selling pressure. However, a closure above this was produced, voiding downside.

LTC/USD 60-minute chart

Price action is consolidating, for now, moving within a horizontal range structure.

Spot rate: 46.41

Relative change: -0.35%

High: 46.87

Low: 44.70

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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