Litecoin price analysis: One step at a time, breakout now, resistances next

  • LTC/USD breaks out in the short term.
  • Not a long run from here yet.

Litecoin the sixth largest cryptocurrency by market capitalisation, has given a small breakout on the short term chart, giving enough ammunition to the bulls to try and take control in their hands after a long time, although its a long drawn battle.

LTC/USD is up about a percent at $76.97 bouncing from the day’s low of $75.262. On the hourly chart, LTC has broken out of a descending trendline in an attempt to head a bit more towards North.

Although this upward journey could be limited upto $80-83 where it faces multiple resistances in the form of 21 days SMA and earlier lower high, both of which bulls must cross to take battleground in their complete control.

LTC/USD hourly chart:

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