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Litecoin  technical analysis: LTC/USD major barrier at $120 needs to be broken for greater gains

  • LItecoin price is trading with gains of over 4% in the second part of the session on Friday.  
  • LTC/USD bulls trying to break down heavy daily supply around the $120 territory.  
  • Anticipation heading into the Litecoin halving appears to be driving some momentum, it is happening in some 60 days.  

 

Spot rate:                  116.36

Relative change:       +4.45%

High:                         116.42

Low:                          109.95

LTC/USD 60-minute chart

  • The significance of the $120 price territory can be seen clearly via the 60-minute view.  

LTC/USD daily chart

  • Price action via the daily is resting a critical area of supply up at $120, a break could invite a stronger wave of buying pressure.

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