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Litecoin technical analysis: LTC/USD $60 is proving to be a real problem

  • Litecoin price is trading in the red, with losses of 1.70%  the session on Friday.
  • LTC/USD daily price action has been limited for going on six sessions now. 
  • The supply remains heavy around the $60 price territory. 
Litecoin technical analysis: LTC/USD $60 is proving to be a real problem
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Price action continues to struggle in the early $60 region, a lack of momentum to breakthrough. 

LTC/USD 60-minute chart

The price is moving within a narrowing range-block formation, nearing a potential breakout.  

Spot rate:                  57.43

Relative change:      -1.70%

High:                         59.00

Low:                          56.77

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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