Litecoin Technical Analysis: LTC/USD at risk to downside shocks

  • Litecoin into the second half of Thursday's session is trading in the red by some 1%.
  • LTC/USD price action via the 4-hour chart view is moving within a bearish pennant pattern. 
  • The psychological $100 mark remains at risk to attack by bears, should the noted technical structure play out. 

 

Spot rate:                 103.10

Relative change:      -1.20%

High:                        105.57

Low:                         101.35

 

LTC/USD 4-hour chart

  • Litecoin has formed a bearish pennant pattern via the 4-hour chart, subject to a potential breakout. 

LTC/USD daily chart

  • Price action via the daily chart view is still very much supported by an ascending trend line of support. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.