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

FX Street

Updated: 8 Nov. 2019 | 18:47

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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