Home Litecoin Price Forecast: LTC/USD near-term life kicked into bulls but may prove to be unsustainable

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Litecoin Price Forecast: LTC/USD near-term life kicked into bulls but may prove to be unsustainable

FX Street

Published date: 23 Mar. 2020 | 14:22

Litecoin price is trading in positive territory by 10.60% in the session on Monday.
LTC/USD has recently exploded out from a narrowing range formation.
Heavy supply observed around the $40 price area, which could limit upside.

LTC/USD weekly chart

The price broke below, retested and has rejected a critical trend line of support, leaving LTC vulnerable.

LTC/USD daily chart

A bearish pennant structure can be observed via the daily chart view.

Spot rate: 40.18

Relative change: +10.60%

High: 40.13

Low: 34.55

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