Litecoin Price Forecast: LTC/USD largely at risk trading underneath bearish flag

• Litecoin price is trading in negative territory by 2.30 % in the session on Wednesday. 
• LTC/USD is moving within a narrowing nature, sitting just above critical support at $40. 
• The coming range breakout will likely be trend defining, with risks tilting to the downside. 

LTC/USD daily chart

Vulnerabilities remain tilted to the downside, given the bearish flag breach. 

LTC/USD 60-minute chart

Price action formed a head and shoulder structure and has breached the neckline, inviting further downside pressure. 

Spot rate:               40.38

Relative change:  -2.30%

High:                      41.77

Low:                       40.22