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  • Litecoin price on Wednesday is on the back foot, nursing losses of 1.8% late in the session.  
  • LTC/USD bulls failed to capitalize on a bullish pennant pattern technical structure.  
  • Bears are looking to go in for the kill with a full reversal of April gains.

Spot rate:                   72.73

Relative change:       -2.01%

High:                          75.22

Low:                           70.51

LTC/USD 60-minute chart

  • Price action moving within a bearish near-term pennant pattern formation, subject to a breakout south.

LTC/USD daily chart

  • A descending channel can be eyed via the daily, which could even be perceived as somewhat of a bullish flag pattern.