Litecoin Price Forecast: LTC/USD near-term life kicked into bulls but may prove to be unsustainable

Litecoin price is trading in positive territory by 2.300% in the session on Tuesday.
LTC/USD is running at two consecutive sessions in the green.
There is still some risk due to a bearish pennant/flag structure via the daily.

Ken Chigbo Independent Analyst

LTC/USD daily chart

Price action still remains narrow, as has been the case since 13 March, with the risk of bears capitalizing on the noted pennant/flag.

LTC/USD 60-minute chart

A decent wave of upside momentum was seen, thanks to a bullish breakout of a pennant via the 60-minute.

Spot rate: 40.15

Relative change: +2.30%

High: 40.84

Low: 38.39

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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