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Litecoin technical analysis: LTC/USD remains exposed to downside risks despite small session gains

  • Litecoin price is holding gains in the session some 2.90% towards the latter stages of the session
  • LTC/USD is moving within a bearish pennant structure despite the gains seen in the session. 
  • Upside remains limited given a narrowing range, resistance observed at the pychological $60. 
Litecoin technical analysis: LTC/USD remains exposed to downside risks despite small session gains
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Price action is moving within a bearish pennant structure via the daily chart view. 

LTC/USD 60-minute chart

The price via the 60-minute view is trading within narrow conditions, a range-block formation can be observed. 

Spot rate:                  55.46

Relative change:      -2.40%

High:                         55.89

Low:                          52.60

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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