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Litecoin technical analysis: LTC/USD may have trouble reclaiming $100 mark again

  • Liitecoin price is trading in the red, down over 5% the session on Tuesday.
  • LTC/USD sees a huge barrier now built up around the $100 price territory. 
  • The above noted demand zone has historically proven to attract decent buying momentum. 
Litecoin technical analysis: LTC/USD may have trouble reclaiming $100 mark again
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  0.3095

Relative change:      -4.25%

High:                         95.16

Low:                          88.46

LTC/USD 60-minute chart

  • Price action stuck within a descending channel structure, driving the price south. 

LTC/USD daily chart

  • Big supply now seen at $100 price territory, very problematic for bull hopes. 

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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