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Litecoin Price Analysis: LTC/USD floodgates are open for greater downside

  • Litecoin price is trading in negative territory by 14.50% in the session on Wednesday. 
  • LTC/USD is now running towards its third consecutive session firmly in the red. 
  • Critical demand is being broken down at the range of $70-65 via the daily. 
Litecoin Price Analysis: LTC/USD floodgates are open for greater downside
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Important support levels to the downside are eyed at $60, $53 and then $50.

LTC/USD 60-minute chart

It can be seen with the current structure, that rallies continue to be sold, or any near-term bounce/consolidation. 

Spot rate:                60.22

Relative change:    -14.50%

Hgh:                         72.12

Low:                         65.37

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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