Litecoin Technical Analysis: LTC/USD bulls have the opportunity to push for a recovery

Litecoin price is trading in minor negative territory by some 0.50% in the session on Monday.
LTC/USD is running with three consecutive sessions in the green, as the bulls push for a recovery.
The next major area of interest will likely be towards the psychological $50 mark.

Ken Chigbo Independent Analyst

LTC/USD daily chart

The bulls managed to push the price back above a critical near-term descending trend line. Given the current pressure tilting back to the south, eyes on the retest.

LTC/USD 60-minute chart

Market bears breached a critical near-term ascending trend line of support, allowing for some fresh selling to be seen.

Spot rate: 42.16

Relative change: -2.50%

High: 44.05

Low: 41.98

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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