Litecoin price struggles to move higher above $65.00

April 24, OctaFX – Litecoin price is struggling to move higher on Wednesday, as the sixth largest cryptocurrency by market capitalization failed to rally alongside Bitcoin on Tuesday.

LTCUSD technical analysis

The LTCUSD pair is still trapped within a bullish descending triangle pattern on the daily time frame. Overall, the LTCUSD pair still has a bullish weekly trading bias above the $65.00 level, which is the neckline of the large inverted head and shoulders pattern.

  • The LTCUSD pair is only bullish while trading above the $65.00 level, key resistance is found at the $85.00 and $100.00 levels.

  • If the LTCUSD pair trades below the $65.00 level, key support is found at the $50.00 and $45.00 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.

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