Litecoin Price Analysis: LTC/USD risks largely tilted to the south

Litecoin price is trading in negative territory by -3.10 % in the session on Wednesday.
LTC/USD moving in narrowing nature, upside limited to $40, support noted at $37.
A flag structure remains present via the daily chart view, risk of a breakout to the downside.

Ken Chigbo Independent Analyst

LTC/USD daily chart

Trading conditions have been tight since the 13 March, following the heavy price falling, there has been a lack of market commitment since. There is more favour technically to see another drop.

LTC/USD 60-minute chart

Price action is closely flirting with an ascending trend line of support via the 60-minute chart view.

Spot rate: 38.99

Relative change: -3.10%

High: 39.23

Low: 37.54

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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