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Litecoin Price Analysis: LTC/USD subject to a stronger bear attack

  • Litecoin price is trading in negative territory by -8.45% in the session on Monday. 
  • LTC/USD is moving within a narrowing nature, with a breakout looming 
  • The price has formed a bearish pennant, at risk of another wave of downside pressure. 
Litecoin Price Analysis: LTC/USD subject to a stronger bear attack
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Daily price action has seen the construction of a bearish pennant, as the price narrows for going on four sessions. The lower acting critical support should be noted at $30.

LTC/USD 60-minute chart

Price action has edged out of a bearish flag structure, at risk of another push lower via the 60-minute chart view. 

Spot rate:                33.20

Relative change:    -8.50%

High:                       36.32

Low:                        29.27

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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