Litecoin (LTC) Price Analysis: Bullish Continuation Likely

Litecoin price gained traction and broke the $34.00 resistance. LTC is trading in a positive zone and it could continue to move higher towards $35.00 and $37.50.

Key Talking Points

  • Litecoin price performed really well and broke the $32.00 and $34.00 resistances (Data feed of Kraken) against the US Dollar.
  • There is a bullish continuation pattern formed with support at $33.00 on the hourly chart.
  • LTC price must stay above the $32.20 support level to remain in a positive zone.

Litecoin Price Analysis

During the past few days, there was a solid upward move from the $30.00 support area in litecoin price against the US dollar. The LTC/USD pair gained momentum and broke the $32.00 and $34.00 resistance levels.

Looking at the chart, LTC price traded close to the $34.50 level and settled above the 100 hourly simple moving average. A high was formed at $34.59 and later the price started a short-term downside correction.

The price moved below the $34.00 support and the 23.6% Fib…

Read Full Story : Ethereum World News

2019-02-04 06:10:44

Aayush Jindal

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