LTC / USD has room for a quick return to $ 50

  • The LTC / USD bulls managed to break through a formation of the descending model of the channel.
  • Eyes are rapidly returning to the $ 50 level, support is $ 42.30.

The Litecoin price was seen nursing losses of about 2.3% in the last stages of Thursday's trading. The bulls managed to cover some of the first damage in the session. Perhaps the bears in the market have really exhausted themselves.

The LTC / USD price action formed a formation of the descending model of the channel, observed through the 60-minute chart view. The bulls managed to penetrate the upper trend line enough to force a break on the upside. This leaves the door open to the bulls to further capitalize.

Given the rupture of the aforementioned training model, it offers the LTC / USD a further opportunity to recover some losses. The eyes have the potential for a rapid ascent to $ 50, there is not much in the way of that level. The support should now be noted above the broken channel, keeping track of $ 42.30.

Chart 60 minutes LTC / USD

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