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Litecoin technical analysis: LTC/USD explosive moves in the waiting

  • Litecoin price on Tuesday is trading in negative territory by 1.00%.
  • LTC/USD price action has done little over the past two weeks, narrowing. 
  • Price action like many of its peers has formed a bearish pennant structure. 
Litecoin technical analysis: LTC/USD explosive moves in the waiting
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  187.60

Relative change:      -0.50%

High:                         189.04

Low:                          184.62

LTC/USD daily chart

  • The price is moving within a narrowing pennant formation via the daily. It appears to be the calm before the storm, given the two weeks of range-bound trading.  

LTC/USD 60-minute chart

  • Price action via the 60-minute chart view is subject to an imminent breakout, given the triangular structure. 

Author

Ken Chigbo

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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