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Litecoin technical analysis: LTC/USD big task for the bulls if they want to break back above $70

  • Litecoin price on Monday is trading in positive territory by 0.60% in the second half of the session. 
  • LTC/USD upside is going to be heavily capped by a strong prior support zone seen at $70. 
  • A long-running descending trend line has limited upside since 21 June. 
Litecoin technical analysis: LTC/USD big task for the bulls if they want to break back above $70
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  66.41

Relative change:      +0.45%

High:                         66.56

Low:                          65.03

LTC/USD daily chart

  • The bulls are attempting to stage a rebound following the break down of critical support at $70. 

LTC/USD 60-minute chart

  • Price action is stuck within a mundane range to a high of $67, down to a low of $62. 

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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