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GBP/USD

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Litecoin Technical Analysis: LTC/USD has a small challenge for huge rewards

Litecoin price jumps a big 7% in the session on Thursday, part of a bullish trading week.
A recovery has almost certainly been staged given the weekly candle closure LTC/USD is heading towards.

Ken Chigbo Independent Analyst

LTC/USD 15-minute chart

Spot rate: 32.17

Relative change: +9.71%

High: 32.55

Low: 31.14

Trend: Bullish

Resistance 1: 31.2209, daily pivot point resistance.

Resistance 2: 33.06, daily pivot point resistance.

Resistance 3: 34.15, daily pivot point resistance.

Support 1: 28.28, daily pivot point support.

Support 2: 27.20, daily pivot point support.

Support 3: 25.35, daily pivot point support.

LTC/USD 60-minute chart

A bullish pennant formation can be eyed via the 60-minute chart view, subject to an extended move to the upside.

LTC/USD 4-hour chart

Bulls breaking down the $32-33 area holds significant potential to greater upside.

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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