Litecoin Technical Analysis: LTC/USD bulls hunting for $100 return

Litecoin price in the second half of the session on Friday is trading firmly in positive territory, big gains of around 8%.
LTC/USD smashed out from a descending wedge pattern formation/bull flag. leaving the door open to further gains.
Bulls are locked in on the next major barrier up at the psychological $100 price mark.

Ken Chigbo Independent Analyst

Spot rate: 79.66

Relative change: +8.60%

High: 81.34

Low: 73.62

LTC/USD 60-minute chart

A near-term pennant can be observed via the 60-minute chart view, as the price briefly consolidates ahead of further potential moves north.

LTC/USD daily chart

Breakout from descending wedge formation/bull flag, room to push further north.

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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