Litecoin: Breakout, steep rally, pause
05/16/2019, 04:56:42
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Litecoin rallies the most this week among the major cryptocurrencies, after breaking out of a stiff resistance trendline and is now in a pause and con

  • LTC breaks out on the long term chart.
  • Rallies the most this week among other majors.
  • LTC breaks out on the long term chart.
  • LTC breaks out on the long term chart.
  • Rallies the most this week among other majors.
  • Rallies the most this week among other majors.

    Litecoin rallies the most this week among the major cryptocurrencies, after breaking out of a stiff resistance trendline and is now in a pause and consolidation mode which is a healthy sign if the bulls have to build up on the recent gains.

    Litecoin

    LTC/USD down more than 2 percent on day at $86.72, not far from day's low and trading in about 5 percent range for the day. On the 12-hour chart of LTC, it broke past a key hurdle this week, resulting in prices rallying about 30 percent from the breakout point, while the rally is a steep 65 percent from the low of the week to the high of $99.

    Given that overbought RSI and retraced prices, its a good sign for the bulls to pause for now and consolidate the gains achieved in such a short time to be able to build on further from here.

    LTC/USD 720-minute chart:

    LTC/USD 720-minute chart:LTC/USD 720-minute chart:

     


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