LTC/USD will only progress to a greater recovery if $40 is broken

  • Litecoin price is trading in negative territory by 4.15% in the session on Monday. 
  • LTC/USD has offered little in terms of price action since 13 March.
  • Given the narrow conditions, it suggests a big breakout is in the works for Litecoin.

 

LTC/USD weekly chart

Despite narrowing price movements, the price has closed in the green marginally for two consecutive weeks. 

LTC/USD daily chart

Price action remains narrow via the daily chart view, at risk of breakout south, moving within the bearish flag. 

 

Spot rate:               38.66

Relative change:  +4.15%

High:                      39.55

Low:                       37.11