LTC/USD one of the biggest movers of the day as price goes up by 6.5%

• Bulls have a field day as LTC/USD has a bullish breakout from flag formation.
• LTC/USD went up from $45.50 to $48.50, growing by 6.5%.

LTC/USD bulls moved the price up from $48.50 to $45.50, as the market went up by 6.5% this Friday. LTC/USD became one of the largest movers on a day which saw the entire crypto market receive a significant boost. The buyers will want to claim back the $50 resistance line which they lost out on Sunday, February 24th.

LTC/USD daily chart

The LTC/USD market consolidated from Monday, February 25th to Thursday, February 28th, recovering from the sharp drop it experienced on February 24th. In the process, they formed a flag formation, which experienced a bullish breakout this Friday. There are three significant indicators which show the bullish sentiment of the market:

• The LTC/USD price is trending above the 200-day simple moving average (SMA 200) curve.  
• The moving average convergence/divergence (MACD) histogram shows that the bearish momentum is slowing down and reversing.
• The relative strength index (RSI) curve is creeping towards the overbought territory.