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Litecoin Technical Analysis: LTC/USD bull breakout eyed from flag formation

  • Litecoin price on Wednesday is underperforming, nursing losses of some 2% in the second half of the session. 
  • LTC/USD price action has formed a bullish flag pattern formation, subject to a breakout. 
  • The bulls have managed to push the price its highest level in over six sessions. 

Spot rate:                  79.44

Relative change:      -1.95%

High:                         82.29 

Low:                          78.92

 

LTC/USD 60-minute chart

  • Price action is narrowing greatly within a triangular structure seen via the 60-minute chart view. 

LTC/USD daily chart

  • Over the last week or so price action has been within consolidation mode, having formed a bullish flag pattern formation, subject to a potential breakout higher. 

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