Litecoin technical analysis: LTC/USD bulls retesting breached bearish pennant structure
|- Litecoin price on Wednesday is trading in positive territory by 3.80% in the second half of the session.
- LTC/USD upside is going to be heavily capped by a strong prior support zone seen at $70. Market bulls faced a rejection here in session on Tuesday.
- The bulls are retesting a breached pennant structure, which at present continues to contain the price.
Spot rate: 67.29
Relative change: +3.70%
High: 69.38
Low: 66.64
LTC/USD daily chart
- The bulls were dealt with rejection, after attempting to retest the broken down critical support at $70.
LTC/USD 60-minute chart
- Price action has smashed out to the downside from a rising channel formation, making way for further selling pressure.
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.