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Litecoin technical analysis: LTC/USD bulls are making huge ground as the price at highest since May 2018

  • Litecoin price is trading marginally in the green, chunky gains of 4.8% in the second half of Wednesday. 
  • LTC/USD price action has extended to the upside, breaking out from a bullish pennant structure via the 60-minute. 
  • Next major upside target is eyed up at $180 price territory for the bulls. 
Litecoin technical analysis: LTC/USD bulls are making huge ground as the price at highest since May 2018
Ken ChigboKen ChigboIndependent Analyst
 
Spot rate:                 249.35

Relative change:      +1.55%

High:                        251.72

Low:                         243.13

LTC/USD 60-minute chart

  • The bulls have smashed out to the upside from a bullish pennant pattern formation. 

LTC/USD weekly chart

  • The next upside barrier is not seen until the $180 price area, as seen via the weekly. 

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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