Litecoin technical analysis: LTC/USD bears are hunting for psychological $50 mark
|- Litecoin price is nursing losses in the session down over 2% towards the latter stages of the session
- LTC/USD was hit with a fresh wave of selling pressure following the breakout of a bearish flag structure.
- The next likely target for the bears if they maintain control would be the psychological $50 level.
LTC/USD daily chart
Price action is attempting to stabilize after the bears smashed their way out from a flag structure.
LTC/USD 60-minute chart
Litecoin has breached a near-term ascending channel pattern or bearish flag, leaving the price vulnerable to further downside.
Spot rate: 56.20
Relative change: -2.40%
High: 57.60
Low: 55.98
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