19 July 2019, OctaFX – Litecoin price has staged a strong recovery alongside Bitcoin, with the fourth-largest cryptocurrency posting double-digit gains on Friday.
Litecoin price technical analysis
The LTCUSD pair has recovered back to key neckline resistance, although bulls are still struggling with the $100.00 resistance level. Technical rejection from the $100.00 level should spark a sell-off back towards the $90.00 level, while a bullish breakout should target the $107.00 level.
The LTCUSD pair is only bullish while trading above the $93.00 level, key resistance is found at the $100.00 and $107.00 levels.
If the LTCUSD pair trades below the $93.00 level, key support is found at the $90.00 and $75.00 levels.
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.