Litecoin Price Analysis: LTC/USD near-term vulnerabilities point to the downside
- Litecoin price is trading in positive territory by some 0.15% in the session on Tuesday.
- LTC/USD like many of its peers is moving within consolidation mode, ahead of next committed moves.
- Near-term price action demonstrates some vulnerabilities to the downside for Litecoin.
LTC/USD daily chart
The daily candlesticks continue to wick and catch support in the $55 zone. Failure to hold could see the price slammed back down to $50.
LTC/USD 60-minute chart
Price action is moving within a near-term bearish flag structure, subject to a breakout south.
Spot rate: 57.28
Relative change: +0.30%
High: 57.98
Low: 56.82
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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