Litecoin Price Analysis: LTC/USD jumps to highest levels in almost four weeks following $50 breakthrough

Litecoin price is trading in positive territory by some 9.70% in the session on Tuesday.
LTC/USD momentum has been very much to the upside since 18 December.
A decent wave of buying pressure came into play following the $50 breakthrough.

Ken Chigbo Independent Analyst

LTC/USD daily chart

The bulls will be attempting to break down supply at the $55 price mark, should a breach be observed then further buying would be eyed.

LTC/USD 60-minute chart

Price action smashed out of a bullish pennant structure, inviting a fresh wave of upside momentum.

Spot rate: 48.20

Relative change: +9.70%

High: 57.63

Low: 49.56

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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