Litecoin Price Analysis: LTC/USD huge bear flag retest
- Litecoin price is trading in positive territory by+7.80 % in the session on Wednesday.
- LTC/USD encountered explosive buying down at $38.50, an unexpected surge.
- The price managed to print fresh highs for the week, following the jump north.
LTC/USD daily chart
The bulls will need to break back above the breached bear flag to void the downside bias.
LTC/USD 60-minute chart
The buying came into play down at the lowest levels that were seen since 1 April, it very much came as a surprise and not even so much bouncing off any key support.
Spot rate: 42.36
Relative change: +7.80%
High: 43.76
Low: 37.98
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.
More from Ken Chigbo
