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.

Ken Chigbo Independent 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

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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