Litecoin technical analysis: LTC/USD bears attack again with fresh wave of selling pressure

Litecoin price is trading in the red in the session by some 1.20%.
LTC/USD has broken out of a bearish pennant pattern, inviting another round of selling.
The price is trading at the lowest level in five sessions, as the bears maintain control.

Ken Chigbo Independent Analyst

LTC/USD daily chart

Price action remains stuck consolidating within a bearish flag structure via the daily, breakout eyed.

LTC/USD 60-minute chart

Smashes out of a near-term bearish pennant formation, as the price breaches the $45 mark.

Spot rate: 43.95

Relative change: -1.20%

High: 44.67

Low: 43.90

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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