Litecoin Technical Analysis: LTC/USD next major bull target of $100 in sight

Litecoin price on Monday is trading in the green with minor gains of around 0.80%.
LTC/USD recently broke out of and retested a bullish flag structure, subject to further potential upside.
Given the recent technical breakout, bulls are gunning for the next major target of $100.

Ken Chigbo Independent Analyst

Spot rate: 76.92

Relative change: +0.80%

High: 77.05

Low: 72.29

LTC/USD 60-minute chart

The price took a decent bounce off a strong supporting ascending trend line seen via the 60-minute view.

LTC/USD daily chart

The price has broken out and retested a bullish flag structure, leaving the door open for the bulls to further capitalize.

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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