Litecoin Price Analysis: LTC/USD enjoys temporary relief from bear attack

Litecoin price is trading in negative territory by +4.95% in the session on Tuesday.
LTC/USD is moving within a narrowing nature, pennant pattern subject to a breakout.
The price has been consolidating for going on five sessions now, following a strong bear attack.

Ken Chigbo Independent Analyst

LTC/USD 4-hour chart

Danger still looms for LTC/USD as the price moves within the confinements of a bearish pennant structure, via the 4-hour view.

LTC/USD 60-minute chart

Price action has edged out of a bearish flag structure at risk of further downside pressure.

Spot rate: 35.05

Relative change: +4.50%

High: 36.06

Low: 32.59

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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