Ken Chigbo
Independent Analyst
- Litecoin price on Thursday is trading in negative territory by 4.25%. It is one of the under-performers across the larger altcoins.
- LTC/USD smashed out from a bearish flag formation, opening door to further downside pressure.
- Critical daily support at $70 was broken, keeping the bears in control.
Spot rate: 64.13
Relative change: -3.55%
High: 66.80
Low: 62.16
LTC/USD daily chart
- Price action remains heavily weighted to the downside, following support breach and flag breakout.
LTC/USD 60-minute chart
- Range block breakout is seen via the 60-minute chart view, retest in play.
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