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  • Litecoin trades 5.5% higher today as crypto sentiment remains positive.  
  • LTC/USD has met a strong resistance level at the consolidation high.

 

Litecoin has traded well today as have much of its peers but it has come to a halt at the 58.61 consolidations high.

After the big crypto drop on 24th September, the price consolidated between 50.27 and 58.61.

On the lower timeframes, you can see a pattern of higher highs and higher lows but there is a big level to beat.

Price has now moved back to the 23.6% Fibonacci level but we need to see if it holds as support.

The volume profile on the right hand side is showing that price is above the value area and it could be a potential support level in the future.

Litecoin analysis