Litecoin Technical Analysis: LTC/USD bears gunning for full April advance reversal
- Litecoin price on Wednesday is on the back foot, nursing losses of 1.8% late in the session.
- LTC/USD bulls failed to capitalize on a bullish pennant pattern technical structure.
- Bears are looking to go in for the kill with a full reversal of April gains.
Spot rate: 72.73
Relative change: -2.01%
High: 75.22
Low: 70.51
LTC/USD 60-minute chart
- Price action moving within a bearish near-term pennant pattern formation, subject to a breakout south.
LTC/USD daily chart
- A descending channel can be eyed via the daily, which could even be perceived as somewhat of a bullish flag pattern.
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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