- Litecoin price trading in minor positive by some 1.5%, but continues to move within a narrow range.
- LTC/USD price action is moving within a narrowing range-block formation, which is subject to potential downside risks.
The Litecoin price late on Thursday was trading in minor positive territory, up around 1.5%. Price action through the session has been somewhat muted, a hesitance to commit continues to be observed across the market.
LTC/USD has been moving within a narrowing range-block formation, this has been observed since 24th February. Given this current price action, it appears the price is vulnerable to downside risks, shaping up to be somewhat of a bearish flag formation.
Technically, with the mentioned pattern structure, there is room for another potential pop lower. The range low is observed at $43, with the high up at $47. An ascending trend line can be seen tracking at $45, a pick-up of momentum from the bears to breach noted areas of support, could see the price tumbling.
LTC/USD 4-hour chart
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