Litecoin technical analysis: LTC/USD bears forcing big rest of breached bull pennant

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  • Litecoin price is trading in the red, with losses of 2.75%  the session on Friday.
  • LTC/USD daily price action is retesting a breached bull pennant. 
  • Critical support at the $60 price mark has been breached.

 

LTC/USD daily chart

Failure of the daily breached pennant structure retest could force large selling pressure to the downside. 

LTC/USD 60-minute chart

The price has cleared near-term critical demand at $60, opening the door to a fresh wave of selling. 

 

Spot rate:                  59.74

Relative change:      -2.75%

High:                         62.42

Low:                          58.78

 

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