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Technical analysis

After Two Failed Attempts Litecoin Price Rallies Above $30.00

OctaFx | Jan. 4, 2019
After Two Failed Attempts Litecoin Price Rallies Above $30.00

January 4, OctaFX – The LTCUSD pair is consolidating above the $30.00 level in early Friday trade, after two failed attempts to surpass the $33.00 resistance area.

LTCUSD Technical Prediction

Buyers now need a strong move above the $36.00 level in order to trigger the bullish inverted head and shoulders pattern on the lower time frames. Repeated failure to launch higher may prompt a further technical test of the $26.00 support level.

  • The LTCUSD pair is only bullish while trading above the $33.00 level, key resistance is found at the $36.60 and the $45.00 levels.
  • If the LTCUSD pair moves below the $30.00, sellers may test the $26.00 and $21.50 support levels.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.