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Litecoin technical analysis: LTC/USD bearish flag structure subject to a breakout

  • Litecoin price is trading in the green, with gains of 2.25%  the session on Wednesday.
  • LTC/USD is consolidating following the harsh selling through the month of November. 
  • Price action is moving within a bearish flag structure, subject to a potential breakout south. 
Litecoin technical analysis: LTC/USD bearish flag structure subject to a breakout
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

The daily indicates of vulnerabilities still tilting to the downside, in current consolidation. 

LTC/USD 60-minute chart

The price is stuck within the confinements of a descending channel structure. 

Spot rate:                  45.90

Relative change:      +2.25%

High:                         47.25

Low:                          43.86

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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