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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.  
Litecoin Technical Analysis: LTC/USD bulls hunting for $100 return
Ken ChigboKen ChigboIndependent 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

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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