Litecoin Price Analysis: LTC/USD bulls locked in on $100 and beyond

Litecoin price in the second half of trading on Friday is holding very minor gains of some 0.80%.
LTC/USD price has edged out from a bullish pennant pattern, eyes on further potential moves north.

Ken Chigbo Independent Analyst

Litecoin price in the second part of trading on Friday is trading with very minor gains of some 0.80%. The session has been somewhat quiet across the sector, with little in terms of market movements.

LTC/USD price action is moving within a bullish pennant pattern formation, which has seen the price edge out from within recent trading. Given the technical structure, eyes are on further moves to the north.

Technically, the next major area of resistance and interest for the bulls will likely be then psychological $100 price mark. A near-term comfort area can be seen around the $77-75 range, which has supported the price between 11-16th April.

LTC/USD daily chart

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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