LTC/USD Price Analysis Sep. 24, 2018

[Nikko]

The pullback in Litecoin hit a roadblock at $63.650 on September 23. It is currently trying to take support at the moving averages.

The LTC/USD pair is currently in a consolidation between $49.466 and $69.279. Both moving averages have flattened out and the RSI is at the midpoint, suggesting that the range bound action might continue for a few more days.

A breakout of the overhead resistance will complete a double bottom pattern, which has a pattern target of $89. A break below the moving averages could sink the digital currency back to the bottom of the range. We recommend traders attempt a long position only on a breakout and close (UTC time frame) above $69.279. 

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