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Litecoin technical analysis: LTC/USD strong ascending trend line is maintaining upside pressure

  • Litecoin price on Thursday in the second half is trading ever so marginally in negative territory down some 0.30%.
  • LTC/USD is being supported to the upside by a long-running ascending trend line. 
  • Next major barrier for bulls to tackle is seen at the range of $140-145.
Litecoin technical analysis: LTC/USD strong ascending trend line is maintaining upside pressure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  118.44

Relative change:      -0.30%

High:                         123.13

Low:                          117.13

LTC/USD 60-minute chart

  • Upside is limited at $121-123, support can be seen just below a near-term trend line tracking at $115. 

LTC/USD daily chart

  • Price action is being supported to the upside by an ascending trend line, which has been running since late April. 

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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