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  • Litecoin price on Friday outperformed several of its peers, running with gains of around 2%.
  • LTC/USD makes a strong break from descending channel, sees retest and now clear for further upside.

 

The Litecoin price was seen trading firmly in the green on Friday, outperforming several of its peers across the crypto market. A moving that is continuing the promising upside momentum, triggered from the mid part of the week.

LTC/USD on Thursday made a breakout to the upside from a descending channel formation, that began to take shape on 6th September. During Friday’s session the price saw a minor pullback to test the upper part of the broken channel, a move playing to the textbook.

Technically, given the breakout and retest from the descending channel for LTC/USD, it paves the way for the bulls to apply further buying pressure. To the upside, resistance may be encountered around 10th September highs $56.75 and then a supply zone is seen just ahead within early $58 region.

 

LTC/USD 4-hour chart

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