Litecoin Technical Analysis: LTC/USD pennant rejection could be very punishing

• Litecoin price is trading in the green in the session by some 0.60%.  
• LTC/USD is attempting to break back above a breached bearish pennant structure.  
• The next major support to the downside is eyed all the way down at $20.  

LTC/USD daily chart

Earlier in the week, LTC/USD smashed before critical support at $40, now likely to prove as resistance.  

LTC/USD 60-minute chart

Price action is moving within a near-term bearish flag structure via the 60-minute view.  

Spot rate:                   40.90

Relative change:       +0.60%

High:                           41.06

Low:                           40.41