Litecoin technical analysis: LTC/USD big bear bite sees largest drop in four weeks

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  • Litecoin price is trading in the red in the session by some 8.70%. 
  • LTC/USD sees a fresh bout of selling pressure as price breaks and retest bear flag. 
  • The price sees the biggest daily fall in around four weeks, as bears pile in. 

 

LTC/USD daily chart

Price action was consolidating after a breach from bearish flag structure, the retest invited another bout of selling.

LTC/USD 60-minute chart

The price has breached out of an ascending wedge structure and additionally a pennant via the 60-minute chart. 

 

Spot rate:                  48.87

Relative change:      -8.70%

High:                         55.16

Low:                          53.48

 

 

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