Ken Chigbo
Independent Analyst
- Litecoin price is trading in positive territory by 5.50% in the session on Thursday.
- LTC/USD is now running towards its fourth potential consecutive session firmly in the red.
- A critical trend line of support was breached at around $72, inviting fresh selling.
LTC/USD daily chart
The price in the last four sessions has dropped a chunky $20 from $80 down to $60.
LTC/USD 60-minute chart
Bulls managed to break out of a bearish pennant structure, after being set up for a fresh bout of downside pressure. A near-term supply area should be noted at $65.
Spot rate: 64.20
Relative change: +5.50%
Hgh: 65.52
Low: 57.33
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