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Litecoin Technical Analysis: LTC/USD potential head and shoulders formation under construction

  • Litecoin price in the latter stages of trading on Wednesday i trading in very minor positive of some 0.3%.
  • LTC/USD price action via the daily chart view is constructing a potential head and shoulders formation. 
  • The critical noted support can be seen tracking at $95, which is the possible neckline of the noted h&s.  
Litecoin Technical Analysis: LTC/USD potential head and shoulders formation under construction
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 102.53

Relative change:      +0.30%

High:                        105.61

Low:                         100.14

LTC/USD 60-minute chart

  • Bearish pennant formation eyed via the 60-minute chart view, subject to possible breakout to the downside. 

LTC/USD daily chart

  • Price action via the daily chart view is forming a potential head and shoulders pattern. 

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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