Litecoin Price Analysis: LTC/USD tests major resistance above $175 as consolidation wanes

TL;DR Breakdown Litecoin Price Analysis shows the cryptocurrency up another 6 percent following yesterday’s resistance-breaking riseLTC/USD pair currently trading at $185, testing the new resistance markTo sustain above the second resistance point at $181, breakout from the 23.6 percent FIB at $178 is needed Litecoin price analysis suggests continuation of a bullish run that started from a 2.50 percent rise on Tuesday, reversing a 4 percent decline from Monday. Litecoin finished August at $171.57, up 18.79 percent from last month. The current bullish trend for LTC comes after a period of consolidation above the $170 mark. Starting the ascend yesterday at $171, Litecoin had risen around 8 percent up to $186.90, after falling subtly to $183.65 at the time of writing. The major resistance level is now being tested at $185, with second resistance set at $181. To maintain above that, LTC will need to break past the 23.6 percent FIB at the $178 mark. Barring a major sell-off from here, Litecoin is set to stay clear of support levels at $175 and $166. The larger cryptocurrency market showed plenty of promise today, with Bitcoin leading the way after breaking past the $50,000 mark again. Likewise, Ethereum rose by 7 percent to trade above $3,700. Altcoins also exhibited gains in the market, with Dogecoin rising 12 percent up to $0.304, and Cardano moving up around 9 percent to trade above the $3 mark. Litecoin price analysis f...