Litecoin Price Rally Towards $39.00


January 8, OctaFX – The LTCUSD pair has opened the trading week strongly, with price breaking above the important $36.60 level and rallying towards the $39.00 region. Buyers now need to hold price above the $36.60 level for further advancement above the $40.00 barrier.

LTCUSD Technical Analysis

The bullish inverted head and shoulders pattern has been triggered and remains the immediate focus for short-term buyers.

  • The LTCUSD pair is bullish while trading above the $36.60 level, key resistance is found at the $40.00 and $46.00 levels.
  • If the LTCUSD pair falls below the $36.60, sellers may test the $30.00 and $26.00 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.

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