LTC/USD has a small challenge for huge rewards

  • Litecoin price jumps a big 7% in the session on Thursday, part of a bullish trading week.
  • A recovery has almost certainly been staged given the weekly candle closure LTC/USD is heading towards.

LTC/USD 15-minute chart
 

 

Spot rate:                  32.17

Relative change:      +9.71%

High:                         32.55

Low:                          31.14

 

 

Trend:                        Bullish

 

Resistance 1:             31.2209, daily pivot point resistance.

Resistance 2:             33.06, daily pivot point resistance.

Resistance 3:             34.15, daily pivot point resistance.

Support 1:                  28.28, daily pivot point support.

Support 2:                  27.20, daily pivot point support.

Support 3:                  25.35, daily pivot point support.

 

LTC/USD 60-minute chart

  • A bullish pennant formation can be eyed via the 60-minute chart view, subject to an extended move to the upside. 

LTC/USD 4-hour chart

  • Bulls breaking down the $32-33 area holds significant potential to greater upside. 

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