Litecoin Technical Analysis: LTC/USD must break game-changing barrier at $50


  • Litecoin price is trading in positive territory by some 7.20% in the session on Friday. 
  • LTC/USD regathers upside momentum following two sessions of losses.
  • Price action formed a daily evening star formation, which has resulted in selling pressure ahead of $50. 

LTC/USD weekly chart

Price action has remained extremely narrow for some seven weeks, it comes following a bearish flag breakout. 

LTC/USD daily chart

Chunky supply can be observed from the range of $46-49, proving some difficulty. The area previously served as a strong demand zone. 

 

Spot rate:                 48.20

Relative change:    +7.20%

High:                        48.67   

Low:                         43.83

 

 

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