Ken Chigbo
Independent Analyst
- Litecoin price is trading in the red, with losses of 2.75% the session on Friday.
- LTC/USD daily price action is retesting a breached bull pennant.
- Critical support at the $60 price mark has been breached.
LTC/USD daily chart
Failure of the daily breached pennant structure retest could force large selling pressure to the downside.
LTC/USD 60-minute chart
The price has cleared near-term critical demand at $60, opening the door to a fresh wave of selling.
Spot rate: 59.74
Relative change: -2.75%
High: 62.42
Low: 58.78
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