Litecoin is trading in the green at 69.86 at the time of writing and it seems determined to extend its growth. The altcoin dropped by 6.08% from Saturday's high of 72.19 to 67.80 today's low.
In the last 24 hours, Litecoin is up by 1.13% but it's down by 0.10% in the last 7 days. After the last swing higher, a temporary retreat was natural, trying to attract new buyers before jumping higher.
LTC/USD Bullish Momentum!
LTC/USD dropped in the short term, developing a flag pattern. This was seen as a bullish formation. The sell-off ended around the 68.00 psychological level and now it has escaped from the chart pattern.
As you can see on the H1 chart, the rate jumped and closed above the 69.38 former high which represented a key upside obstacle.
Litecoin Forecast!
Breaking above 69.38 is seen as a long opportunity.
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