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Litecoin technical analysis: LTC/USD narrowing daily range subject to a potential explosive breakout

  • Litecoin price on Monday is trading in the red, nursing losses of around 2.5%.
  • LTC/USD price action via the daily is moving within a narrowing $10 range, subject to a breakout.
  • Bulls must make a breakout from $130-140 range, which could open the door to stronger buying pressure.
Litecoin technical analysis: LTC/USD narrowing daily range subject to a potential explosive breakout
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 133.48

Relative change:      -2.45%

High:                         137.25

Low:                          132.19

LTC/USD 60-minute chart

  • Conditions via the 60-minute are tight, which would suggest an imminent breakout.

LTC/USD daily chart

  • Price action via the daily is narrowing within a range of $130-140.

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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