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Litecoin technical analysis: LTC/USD is stuck underneath bearish flag structure

  • Litecoin price is trading in the red in the session by some 1.10%. 
  • LTC/USD remains very much vulnerable to downside risks as it sits below the breached bear flag. 
  • Daily resistance should be noted at $55, where the lower acting trend line of flag is tracking. 
Litecoin technical analysis: LTC/USD is stuck underneath bearish flag structure
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

The current daily price action is flirting underneath the breached flag structure. 

LTC/USD 60-minute chart

Price action is moving within an ascending wedge structure, subject to a potential breakout south. 

Spot rate:                  54.52

Relative change:      -1.10%

High:                         55.82

Low:                          53.83

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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