Litecoin technical analysis: LTC/USD bearish flag breach invites a fresh wave of selling
- Litecoin price is nursing losses in the session down over 2% towards the latter stages of the session
- LTC/USD has faced a fresh wave of selling pressure following the breakout of a bearish flag structure.
- The low area of August is subject to a retest, a breach could invite much further panic selling for Litecoin.
LTC/USD daily chart
Price action is running at its sixth consecutive session in the red, as the bears maintain firm control.
LTC/USD 60-minute chart
LTC/USD via the 60-minute chart view has smashed out from a bearish pennant structure, inviting more sellers in.
Spot rate: 64.95
Relative change: -2.40%
High: 67.32
Low: 64.56
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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