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Litecoin technical analysis: LTC/USD subject to another potential big bear bite

  • Litecoin price is trading in the red in the session by some 0.25%. 
  • LTC/USD remains very much vulnerable to downside risks as it sits below the breached bear flag. 
  • The price is being capped underneath a broken down bearish flag formation. 
Litecoin technical analysis: LTC/USD subject to another potential big bear bite
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Price action is consolidating after a breach from bearish flag structure, subject to further potential moves south. 

LTC/USD 60-minute chart

Near-term price action is moving within an ascending wedge structure via the hourly. 

Spot rate:                  54.52

Relative change:      -1.10%

High:                         55.16

Low:                          54.16

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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