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Technical analysis

Litecoin price reaches first bullish target

OctaFx | Feb. 20, 2019
Litecoin price reaches first bullish target

February 20, OctaFX – Litecoin is trading close to the best levels of the year so far on Wednesday after the cryptocurrency reached the first bullish objective of the inverted head and shoulders pattern.

Litecoin price technical prediction

The LTCUSD pair may advance towards the $55.00 region if buyers can break above the $49.50 resistance area. Alternatively, technically failure from current levels may prompt a deeper retracement back towards the $36.00 support level.

  • The LTCUSD pair is bullish while trading above the $39.50 level, key technical resistance is found at the $47.00 and $49.50 levels.
  • If the LTCUSD pair trades below the $39.50 level, key support is found at the $36.00 and $33.00 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.