Litecoin technical analysis: LTC/USD heading for $50, a breach could be very punishing
|- Litecoin price is trading in the green in the session by some 3.60%.
- LTC/USD remains very much vulnerable to downside risks as it sits below the breached bear flag.
- Should the daily press for a breakout and closure below $50, another wave of selling pressure may follow.
LTC/USD daily chart
The current daily candlestick is being driven by the bears, smashing out from a bearish flag pattern.
LTC/USD 60-minute chart
Price action has smashed out from a bearish pennant structure in the session on Wednesday, a retest of the breached range in play.
Spot rate: 54.52
Relative change: +3.40%
High: 54.45
Low: 51.60
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