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.

Ken Chigbo Independent 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

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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