Litecoin Technical Analysis: LTC/USD enjoying the Santa rally, next stop $50
|- Litecoin price on Monday enjoying double-digit gains, up 10% into the second half.
- LTC/USD is supported by a near-term ascending trend line. Bulls eyes are on a reclaim of $50 within the near-term.
LTC/USD 15-minute chart
- Ascending trend line via the 15-minute chart view providing a safety net for the bulls.
Spot rate: 36.75
Relative change: +9.41%
High: 37.12
Low: 33.50
Trend: Bullish
Resistance 1: 36.92, daily pivot point resistance.
Resistance 2: 38.35, 20th November high.
Resistance 3: 50.00, psychological level.
Support 1: 32.21, daily pivot point support.
Support 2: 30.90, daily pivot point support.
Support 3: 29.85, daily pivot point support.
LTC/USD 60-minute chart
- Near-term supply zone proving to be a minor barrier for now, around $36.50-37.15.
LTC/USD daily chart
- Next major area of interest for the bulls is seen up at $50-55 range, pre-November fall territory.
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.