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    Litecoin price analysis: Approaching critical resistance

    By Nathan Batchelor

    17:14, 3 June 2020

    Litecoin price analysis

    Litecoin price analysis shows that the cryptocurrency is approaching a series of key resistance areas.

    Litecoin medium-term price trend

    Litecoin is starting to approach critical resistance, as the cryptocurrency receives a boost from the ongoing rally in altcoins.

    Litecoin technical analysis shows that a breakout above the $56.00 level could cause the LTC/USD to rally towards the $80.00 region.

    Litecoin technical analysis

    The LTC/USD pair currently faces strong resistance from its 200-day moving around the $50.00 level, and the April monthly high, just above the $51.00 level.

    Once above this area, the LTC/USD pair faces resistance from the top of a triangle pattern, around the $56.00 level.

    According to the size of the triangle pattern, the LTC/USD could rally towards the $80.00 level if a breakout above major trendline resistance takes place.

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    US100

    20,708.20 Price
    +0.030% 1D Chg, %
    Long position overnight fee -0.0241%
    Short position overnight fee 0.0019%
    Overnight fee time 22:00 (UTC)
    Spread 1.8

    BTC/USD

    98,957.40 Price
    +0.990% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    XRP/USD

    1.39 Price
    +16.240% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    Gold

    2,688.50 Price
    +0.720% 1D Chg, %
    Long position overnight fee -0.0174%
    Short position overnight fee 0.0092%
    Overnight fee time 22:00 (UTC)
    Spread 0.30

    Litecoin short-term price trend

    Litecoin technical analysis shows that the cryptocurrency only has a bullish short-term bias while the price trades above the $44.00 level.

    The four-hour time frame shows that a bullish inverted head-and-shoulders pattern will take shape if price reaches the $50.00. 

    Litecoin technical analysis

    According to the size of the bullish pattern, the LTC/USD pair could rally towards the $61.00 level in the short term.

    Watch out for a powerful breakout in the LTC/USD pair if price starts to settle above the $51.00 resistance level.

    Litecoin technical summary 

    Litecoin technical analysis shows that price is approaching major technical resistance. The LTC/USD pair could rally towards the $61.00, and possibly even the $80.00 level.

    Markets in this article

    LTC/USD
    Litecoin / USD
    91.07 USD
    1.83 +2.060%

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