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Litecoin Price Analysis: LTC/USD heading for a critical supporting trend line test

  • Litecoin price is trading in negative territory by 4.30% in the session on Tuesday. 
  • LTC/USD is now running towards its second consecutive session in the red. 
  • Critical demand should be noted at the range of $70-65 via the daily. 
Litecoin Price Analysis: LTC/USD heading for a critical supporting trend line test
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Important support levels to the downside are eyed at; $70,65 and then $53-50.

LTC/USD 60-minute chart

Near-term price action broke out of a bearish flag structure inviting an additional wave of selling. 

Spot rate:                72.32

Relative change:    -4.30%

Hgh:                        76.11

Low:                        71.29 

Author

Ken Chigbo

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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