Litecoin Technical Analysis: LTC/USD bulls must breakout of current narrow range or be punished
- Litecoin price is seen holding decent gains of some 2.5%, as life comes into the bulls on Tuesday.
- LTC/USD price action supported to the upside by an ascending trend line.
LTC/USD 60-minute chart
- Price action slowed down around the 29th December high area, minor near-term resistance.
Spot rate: 32.91
Relative change: +2.48%
High: 33.34
Low: 31.78
Trend: Neutral
Support 1: 30.38, daily pivot point support.
Support 2: 28.66, daily pivot point support.
Support 3: 27.65, daily pivot point support.
Resistance 1: 33.11, daily pivot point resistance.
Resistance 2: 34.12, daily pivot point resistance.
Resistance 3: 35.84, daily pivot point resistance.
LTC/USD 4-hour chart
- Price action supported in this current upside trend, by an ascending trend line.
LTC/USD daily chart
- A narrowing range observed via the daily time frame, the past five trading sessions, an imminent breakout is eyed.
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.
