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  • Litecoin price on Wednesday is outperforming its peers, trading up some 3%.
  • LTC/USD must firmly breakdown a chunky supply area tracking from $54-57 price range.

 

The Litecoin price in the second half of the session on Wednesday is seen trading firmly in positive territory by some 2.2%. LTC/USD has jumped as high as $58 earlier today, outperforming the rest of its peers.

LTC/USD bulls are attempting to breakdown a chunky area of supply, seen running from $54-57 price range. The price has not comfortably traded above this area since October 2018, there are some heavy sellers camped here. LTC/USD recently faltered within this region at the back end of February.

Should the bulls manage to breakdown the noted area of supply, there could a decent wave of buying pressure coming back into play. Eyes will then be on the mid $60 region, where the price last traded in September 2018.

LTC/USD daily chart