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Litecoin Technical Analysis: LTC/USD double-digit dancing for bulls

  • Litecoin price storms ahead, holding big gains of around as much as 10% on Monday.
  • LTC/USD bulls broke out from a range-block which had been containing the price near-term.
  • Resistance is seen heading into the $30 mark, around the $29 territory.

LTC/USD 15-minute chart
 

Spot rate:                  28.05

Relative change:      +10.05%

High:                         29.16

Low:                          25.54

Trend:                        Bullish

Resistance 1:             28.82, daily pivot point support.

Resistance 2:             29.00, near-term supply area.

Resistance 3:             30.60, 7 December high.

Support 1:                  23.85, daily pivot point support.

Support 2:                  22.07, daily pivot point support.

Support 3:                  20.48, daily pivot point support.

LTC/USD 60-minute chart

  • Bulls see minor retreat, after running into near-term supply. Demand eyed just below at $25.50. 

LTC/USD daily chart

  • Bulls are enjoying four consecutive sessions in the green, on the road to recovery. 

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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