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.

Ken Chigbo Independent 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

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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