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Litecoin technical analysis: LTC/USD capped by game-changing weekly resistance at $60

  • Litecoin price is trading in the green, with a gain of 1.30%  the session on Thursday.
  • LTC/USD weekly price action has been narrow for five trading weeks. 
  • Should the price fails to break $60, it could prove to be punishing. 
Litecoin technical analysis: LTC/USD capped by game-changing weekly resistance at $60
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

A major resistance barrier is eyed at $60, the bulls must break and close above this for greater gains. 

LTC/USD daily chart

Price action is very much topping around $60-62 range, heavy supply. 

Spot rate:                  58.75

Relative change:      -1.30%

High:                         59.80

Low:                          57.18

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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