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Litecoin technical analysis: LTC/USD bulls breaking down $80 could open the door to a fresh wave of buying pressure

  • Litecoin price on Wednesday is trading in positive territory by 4.55% in the second half of the session. 
  • LTC/USD bulls are back into play, as price breaks down barrier seen at the round psychological $70 mark. 
  • Bulls will need to breakdown $80 for greater buying momentum to come into play. 
Litecoin technical analysis: LTC/USD bulls breaking down $80 could open the door to a fresh wave of buying pressure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  

Relative change:      +4.55%

High:                         77.99

Low:                          74.16

LTC/USD daily chart

  • Price action via the daily chart view is running at its third consecutive session in the green, after breaking down key resistance at $70. 

LTC/USD 60-minute chart

  • A near-term wave of buying pressure has been seen, following a breakout from a small narrowing triangular structure. 

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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