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.

Ken Chigbo Independent 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

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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