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.

Ken Chigbo Independent 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

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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