Ken Chigbo
Independent Analyst
- Litecoin is holding losses of over 2% in the second half of Thursday.
- LTC/USD price action had broken out of a bullish flag pattern formation and since seen a retest.
Litecoin price in the second half of the session on Thursday is trading in in the red by some 2%. LTC/USD bulls did briefly manage to push the price to its highest level seen since June 2018.
LTC/USD price action in its consistency to the north is very much reminiscent of the moves higher seen back in December 2017. Not to forget this is when the price ran up to all-time-highs.
The price via the 4-hour chart view was moving within a bullish flag structure but has since seen a breakout and retest. A potential extended move to the upside looks ever-growing. Supply is running from $115-130, a break above could open the door for $150.
LTC/USD 4-hour chart
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Avalanche rallies following launch of incentive program for developers
Avalanche announced the launch of Retro9000 on Thursday as part of its larger Avalanche9000 upgrade. Retro9000 is a program designed to support developers with up to $40 million in grants for building on the Avalanche testnet.
Ethereum could retest $2,707 resistance following increasing ETF inflows and uptrend in funding rates
Ethereum traded around $2,640 on Thursday, up more than 2% following increased bullish bias among investors, as evidenced by ETH ETF net inflows and an uptrend in funding rates.
Ethena Labs launches new UStb stablecoin backed by BlackRock's BUIDL token
Ethena Labs announced on Thursday that it has released a new stablecoin product, UStb. The new stablecoin will be fully collateralized by BlackRock's USD Institutional Digital Liquidity Fund (BUIDL) and function similarly to a traditional stablecoin.
Crypto Today: Bitcoin, Ethereum and XRP trade in the green as crypto lost to hacks and fraud plunge by 40%
Bitcoin has moved above the $65,000 psychological level after flipping a key resistance, XRP sees a slight 1% gain. Ethereum trades around $2,650, up over 3% in the past 24 hours, as it attempts to tackle the $2,707 key resistance.
Bitcoin: Fed-led rally could have legs towards $65,000
Bitcoin is poised for a second consecutive week of gains, supported by the recent 50-basis-point cut in interest rates by the Federal Reserve. Bitcoin broke above several key technical resistances this week, signaling a rally continuation.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.