Litecoin Technical Analysis: LTC/USD jumps to highest levels in almost four weeks following $50 breakthrough

• Litecoin price is trading in positive territory by some 9.70.% in the session on Tuesday. 
• LTC/USD momentum has been very much to the upside since 18 December. 
• A decent wave of buying pressure came into play following the $50 breakthrough. 

LTC/USD daily chart

The bulls will be attempting to break down supply at the $55 price mark, should a breach be observed then further buying would be eyed. 

LTC/USD 60-minute chart

Price action smashed out of a bullish pennant structure, inviting a fresh wave of upside momentum. 

Spot rate:                 48.20

Relative change:    +9.70%

High:                        57.63

Low:                         49.56