Ken Chigbo
Independent Analyst
- Litecoin price is trading in negative territory by 0.30 % in the session on Thursday.
- LTC/USD bulls were able to push for a needed close above Tuesday’s bearish evening star closure.
- The next major barrier to the upside for the bulls is viewable at the psychological $50 mark.
LTC/USD daily chart
The price had formed a bearish evening daily star on Tuesday, which is an indication of an incoming change in trend. Should the bulls have closed below this, it would have invited greater selling pressure. However, a closure above this was produced, voiding downside.
LTC/USD 60-minute chart
Price action is consolidating, for now, moving within a horizontal range structure.
Spot rate: 46.41
Relative change: -0.35%
High: 46.87
Low: 44.70
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