Ken Chigbo
Independent Analyst
- Litecoin price is trading in negative territory by 4.50% in the session on Friday.
- LTC/USD has been pushing south for two consecutive weeks, with bears in control.
- The 2020 gains at risk of a reversal, which has been the case since the bearish evening star formation.
LTC/USD weekly chart
Following the deadly evening star formation in the week of 14 February, downside pressure has been observed.
LTC/USD daily chart
The price is consolidating, for now, following three deep sessions to the south for LTC/USD earlier in the week.
Spot rate: 58.82
Relative change: -4.50%
Hgh: 63.36
Low: 56.60
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