Litecoin Technical Analysis: LTC/USD takes a huge leap for the stars

  • Litecoin price on Wednesday makes a chunky jump of over 7% in the session. 
  • LTC/USD being cushioned near-term by an ascending trend line via the 15-minute chart view.
  • Near-term barrier within the $25 territory is proving to be a problem for greater upside.  

LTC/USD 15-minute chart
 

 

 

Spot rate:                  24.99

Relative change:      +7.27%

High:                         25.21

Low:                          23.23

 

 

Trend:                        Bearish

 

Support 1:                  24.40, ascending trend line.

Support 2:                  22.67, daily pivot point support.

Support 3:                  21.94, daily pivot point support.

Resistance 1:             25.00, near-term supply.

Resistance 2:             25.45, daily pivot point resistance.

Resistance 3:             26.18, daily pivot point resistance.

 

LTC/USD 4-hour chart

  • Bulls have managed to break above descending trend line, which was proving to be a tough line of resistance.

 

 

LTC/USD daily chart

  • Bulls heading for first daily close in the green so far this week. They mus break above $25-26 area for greater upside. 

 

 

BEST BROKERS TO TRADE CRYPTO

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.