Litecoin Technical Analysis: LTC/USD mojo lost in $100 reclaim attempt

Litecoin price on Monday is underperforming, nursing losses of over 3%.
LTC/USD ran into strong sellers are the psychological $100 price territory, failing to break through.
Late last week Mike Novogratz sparked much controversy after suggesting the community to sell Litecoin (LTC) and buy Bitcoin (BTC).

Ken Chigbo Independent Analyst

Spot rate: 89.21

Relative change: -3.07%

High: 94.37

Low: 86.71

LTC/USD 60-minute chart

Price action is moving within a range-block formation, subject to a potential breakout to the upside, after a consolidation period.

LTC/USD 4-hour chart

Much supply is observed heading into the $100 price area, LTC/USD is supported by a near-term ascending trend line.

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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