Litecoin technical analysis: LTC/USD big $70 support barrier breached

• Litecoin price on Thursday is trading in negative territory by 4.25%. It is one of the under-performers  across the larger altcoins.
• LTC/USD smashed out from a bearish flag formation, opening door to further downside pressure.
• Critical daily support at $70 was broken, keeping the bears in control.  

Spot rate:                   64.13

Relative change:       -3.55%

High:                          66.80

Low:                           62.16

LTC/USD daily chart

• Price action remains heavily weighted to the downside, following support breach and flag breakout.  

LTC/USD 60-minute chart

• Range block breakout is seen via the 60-minute chart view, retest in play.