Litecoin technical analysis: LTC/USD big retest of breached range block
- Litecoin price is trading in the green, with gains of 2.70% the session on Tuesday.
- LTC/USD daily price action is retesting a breached daily range-block formation.
- Should the price hold on the retest, it could invite some further buying momentum coming back into play.
LTC/USD daily chart
The critical support of the range-block retest is eyed at the range of $58-57.
LTC/USD 60-minute chart
Near-term price action is being supported to the upside by an ascending trend line, but heavy supply via the 60-minute remains at $61-63 range.
Spot rate: 59.53
Relative change: +2.70%
High: 60.83
Low: 58.88
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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