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Litecoin technical analysis: LTC/USD making strong progress for $100 reclaim

  • Litecoin price on Wednesday is one of the outperformers holding gains of over 6.5%. 
  • LTC/USD price action is showing strong signs of upside momentum, as it looks to reclaim $100 mark. 
  • Bulls are making good way push to escape a bearish technical set up. 
Litecoin technical analysis: LTC/USD making strong progress for $100 reclaim
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 96.20

Relative change:      +6.50%

High:                         96.97

Low:                          90.03

LTC/USD 60-minute chart

  • A barrier of resistance can be seen heading into $100, tracking around $97-98 range. 

LTC/USD daily chart

  • LTC/USD taking decent strides towards an escape from a bearish pennant set up. 

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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