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Litecoin technical analysis: LTC/USD no slowdown of selling pressure with $30 mark eyed

  • Litecoin price is trading in the red in the session by some 3.25%. 
  • LTC/USD is in firmly heading to the south, following key technical structure breakouts. 
  • The next major daily support area of interest is seen down at the $30 price mark. 
Litecoin technical analysis: LTC/USD no slowdown of selling pressure with $30 mark eyed
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

The bears maintain full control of the trend, following a daily breached pennant structure. 

LTC/USD 60-minute chart

Price action was smashed out from a bearish pennant structure, eyes on a potential retest and rejection.


 

Spot rate:                 38.64

Relative change:      -3.25%

High:                         40.16

Low:                          37.90

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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Litecoin technical analysis: LTC/USD no slowdown of selling pressure with $30 mark eyed