Litecoin Price Analysis: LTC/USD vulnerabilities tilted to the downside as price trades under bear flag
|- Litecoin price is trading in negative territory by 0.95% in the session on Monday.
- LTC/USD pressure is back on to the downside, after the exponential gains on Thursday.
- The next major area of support will be eyed back down at the $40 mark.
LTC/USD weekly chart
The bulls have been pushing the price to the upside for five consecutive weeks now. The next major weekly resistance should be noted at $50.
LTC/USD daily chart
Price action is moving within consolidation mode, following a bearish flag breakout and retest, so far continuing to reject.
Spot rate: 41.95
Relative change: -0.95%
High: 43.32
Low: 40.88
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.