Litecoin Price Analysis: LTC/USD huge bear flag retest
|- Litecoin price is trading in positive territory by+7.80 % in the session on Wednesday.
- LTC/USD encountered explosive buying down at $38.50, an unexpected surge.
- The price managed to print fresh highs for the week, following the jump north.
LTC/USD daily chart
The bulls will need to break back above the breached bear flag to void the downside bias.
LTC/USD 60-minute chart
The buying came into play down at the lowest levels that were seen since 1 April, it very much came as a surprise and not even so much bouncing off any key support.
Spot rate: 42.36
Relative change: +7.80%
High: 43.76
Low: 37.98
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.