Litecoin Price Forecast: LTC/USD $40 is a problem which the bulls will need to overcome
|- Litecoin price is trading in negative territory by 2.90% in the session on Friday.
- 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 daily chart
Risks are still tilted to the downside, as the price moves within a bearish flag structure. Conditions are extremely tight and have been for the last four sessions.
LTC/USD 60-minute chart
- The price formed a bullish flag structure via the 60-minute chart view, presenting an opportunity for some near-term buying pressure.
Spot rate: 38.40
Relative change: -2.90%
High: 40.03
Low: 39.19
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