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Litecoin technical analysis: LTC/USD vulnerabilities remain tilted to the downside

  • Litecoin price on Friday is trading in negative territory by 0.80% in the second half of the session. 
  • LTC/USD has been edging lower for the past four consecutive sessions, as the bear market remains strong.
  • Near-term price action is moving within a bearish pennant structure, subject to a breach. 
Litecoin technical analysis: LTC/USD vulnerabilities remain tilted to the downside
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  69.27

Relative change:      +3.70%

High:                         69.70

Low:                          68.460

LTC/USD daily chart

  • Price action via the daily chart view is trading within a bearish flag pattern, subject to a potential brekaout south. 

LTC/USD 60-minute chart

  • LTC/USD via the near-term view is moving within a bearish pennant pattern via the 60-minute. 

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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