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Litecoin technical analysis: LTC/USD price is vulnerable within a bearish pennant

  • Litecoin price on Monday is trading in the green, up some 2.00%. 
  • LTC/USD price action is moving within consolidation mode, having formed a bearish pennant structure. 
  • Critical near-term demand at the $70 price mark is helping keep the price from further downside pressure.
Litecoin technical analysis: LTC/USD price is vulnerable within a bearish pennant
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 73.62

Relative change:      +2.40%

High:                         75.52

Low:                          72.12

LTC/USD daily chart

  • Price action moving within a bearish pennant structure, subject to a breach. 

LTC/USD 60-minute chart

  • Upside is capped by supply around the $75 price region, downside supported at $70.

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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