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Litecoin Technical Analysis: LTC/USD has big barrier ahead in the way of greater upside

  • Litecoin price is trading in the green in the session by some 0.60%. 
  • LTC/USD has managed to find some firmer footing, after falling to 10-month lows last week. 
  • The bulls is retesting a critical area of prior support, which cushioned the price from 22 Nov - 15 Dec. 
Litecoin Technical Analysis: LTC/USD has big barrier ahead in the way of greater upside
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

A critical area of resistance should be noted at the range of $42-45, as mentioned above a former acting area of support.

LTC/USD 60-minute chart

Price action is narrowing within a potential pennant structure, subject to a breakout north. 

Spot rate:                  42.20

Relative change:      +0.60%

High:                          42.59

Low:                           41.70

Author

Ken Chigbo

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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