Ken Chigbo
Independent Analyst
- Litecoin price is trading in negative territory by 0.95% in the session on Monday.
- LTC/USD pressure is back on to the downside, after the exponential gains on Thursday.
- The next major area of support will be eyed back down at the $40 mark.
LTC/USD weekly chart
The bulls have been pushing the price to the upside for five consecutive weeks now. The next major weekly resistance should be noted at $50.
LTC/USD daily chart
Price action is moving within consolidation mode, following a bearish flag breakout and retest, so far continuing to reject.
Spot rate: 41.95
Relative change: -0.95%
High: 43.32
Low: 40.88
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