Litecoin technical analysis: LTC/USD bulls have the wind behind them

Litecoin is holding trading in positive territory late in the session on Wednesday, up some 3.30%.
LTC/USD is moving within a daily bullish pennant structure, eyes on a breakout.
The next major target area for the bulls could be $160 territory.

Ken Chigbo Independent Analyst

Spot rate: 138.81

Relative change: +1.25%

High: 139.30

Low: 133.72

LTC/USD 60-minute chart

Price near-term has breached a near-term descending trend line and a 60-minute pennant structure.

LTC/USD daily chart

A bullish pennant structure is eyed via the daily chart view, subject to upside risks.

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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