- Litecoin trades 5.5% higher as crypto sentiment remains positive.
- LTC/USD has met a strong resistance level at the consolidation high.
Litecoin has performed well, as many of the other cryptocurrencies have done, but it has come to a halt at the 58.61 consolidation high.
After the big crypto drop on 24th September, the price consolidated between 50.27 and 58.61.
On the lower timeframes, you can see a pattern of higher highs and higher lows but there is a big level to beat.
The price has now moved back to the 23.6% Fibonacci level but we need to see if it holds as support.
The volume profile on the right-hand side is showing that the price is above the value area and it could be a possible support level in the future.
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