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

• 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