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Litecoin technical analysis: LTC/USD may have to return to next major area of demand within $70 territory

  • Litecoin price in the second half of Monday is trading marginally in the green, gains of 0.40%.
  • LTC/USD given the current technical price behaviors, remains at risk of returning to $70 territory.  
  • There is much in the way of resistance ahead of the psychological $100 mark. 
Litecoin technical analysis: LTC/USD may have to return to next major area of demand within $70 territory
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 307.98

Relative change:      +0.40%

High:                         92.28

Low:                          87.37

LTC/USD 60-minute chart

  • Near-term price action is moving within a bearish flag structure, subject to potential downside risks.

LTC/USD daily chart

  • The next major areas of demand are observed within the mid to low $70 territory. 

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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