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Litecoin price analysis - LTCUSD bullish above $75

OctaFx | May. 6, 2019
Litecoin price analysis - LTCUSD bullish above $75

6 May 2019, OctaFX – Litecoin is attempting to move higher in early week trade after the sixth largest cryptocurrency by market capitalization was given a boost by the latest strong rally in Bitcoin.

LTCUSD price technical analysis

The LTCUSD pair only has an intraday bullish bias while trading above key technical support, at $75.00. Bulls will soon need to break the former monthly trading high or the LTCUSD pair may come back under downside pressure.

  • The LTCUSD pair is only bullish while trading above the $75.00 level, key resistance is found at the $85.00 and $99.00 levels.

  • If the LTCUSD pair trades below the $75.00 level, key support is found at the $65.00 and $58.00 levels.

Litecoin price analysis

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.

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