Litecoin Price Analysis: LTC/USD must break $40 and hold above to avoid another steep fall
|- Litecoin price is trading in positive territory by 3.55% in the session on Thursday.
- LTC/USD at present is edging towards another day in the green, which would mark the fourth.
- The price continues to be limited to the upside by the barrier at the psychological $40 mark.
LTC/USD daily chart
Price action remains within the confinements of a bearish pennant structure via the daily chart view.
LTC/USD 60-minute chart
The price was able to shoot higher late on Wednesday, after breaking out from a descending channel structure. Price action is further extending north, following pennant breakout.
Spot rate: 40.65
Relative change: +3.55%
High: 40.75
Low: 39.16
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