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Litecoin technical analysis: LTC/USD there is still a potential opportunity for the bulls, but critical support most hold

  • Litecoin price in the second half of Monday is trading in negative territory some 3.5%. 
  • LTC/USD price action via the daily time frame is moving within a bullish structure. 
  • Should the noted support fail to hold, a drop totally erasing the gains for main could be seen, back into $200 territory. 
  • Critical support is noted at $110, a breach could expose $100 to the downside. 
Litecoin technical analysis: LTC/USD there is still a potential opportunity for the bulls, but critical support most hold
Ken ChigboKen ChigboIndependent Analyst

Spot rate:              110.87

Relative change:   -3.50%

High:                      116.24

Low:                       108.89

LTC/USD 60-minute chart

  • Price action is moving within a narrowing pennant pattern, subject to a potential breakout south. 

LTC/USD daily chart

  • Via the daily time frame, despite the vulnerabilities over the short-term chart views, LTC/USD is moving within a bullish pennant structure, with scope for upside. 

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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