Litecoin Price Analysis: LTC/USD has broken out of an intraday chart pattern
- Litecoin trades 2.33% higher on Tuesday as cryptocurrency sentiment improves.
- This move could price the pullback over the last few days was just a blip.
LTC/USD 1-Hour Chart
Litecoin is breaking higher today like much of the other cryptos on Tuesday.
The sell-side volume is still much larger so we would need a pick up to ensure the market is behind this move.
At the moment 70.00 seems to be a good area of support for LTC/USD and a break of the 77.30 resistance would be a good sign for the bulls.
On the daily chart, the shadows (wicks) at the bottom of the candles indicate the buyers are stepping back in.
The level that needs to be taken out on the higher timeframe is 84.50.
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Additional Levels
Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
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