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Litecoin technical analysis: LTC/USD bearish pennant on verge of breakout

  • Litecoin price is nursing losses in the session some 3.15% towards the latter stages of the session.
  • LTC/USD is moving within a bearish flag structure via the daily chart view.
  • Price action has largely narrowed and is subject to an imminent breakout. 
Litecoin technical analysis: LTC/USD bearish pennant on verge of breakout
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Over the last nine sessions, the price has been stuck within a range of $4. 

LTC/USD 60-minute chart

The price via the 60-minute view is being supported by an ascending trend line. 

Spot rate:                  55.79

Relative change:      -3.15%

High:                         56.66

Low:                          53.77

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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