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Litecoin Technical Analysis: LTC/USD forms a bull flag pattern, paving the way for a near-term spike higher, bulls appear as ready to charge

Litecoin on Monday seen up over 2%, after maintaining some upside momentum, following the decent bounce in the previous session.
A bull flag pattern is seen on the 30-minute time frame, which could see the price breakout back to $90+.

Ken Chigbo Independent Analyst

LTC/USD 30-minute chart

Spot rate: 82.33

Relative change: +2.14%

High: 83.84

Low: 78.55

Trend: Bullish/Neutral

Resistance 1: 83.70, upper trend line of bull flag.

Resistance 2: 86.70, (resistance on 30-minute chart).

Resistance 3: 88.35, supply zone entry.

Support 1: 80.25, 50 & 100MAs.

Support 2: 78.68, lower trend line of bull flag.

Support 3: 75.06, (support on 30-minute chart).

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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