Ken Chigbo
Independent Analyst
- Litecoin price is trading in negative territory by 2.30 % in the session on Wednesday.
- LTC/USD is moving within a narrowing nature, sitting just above critical support at $40.
- The coming range breakout will likely be trend defining, with risks tilting to the downside.
LTC/USD daily chart
Vulnerabilities remain tilted to the downside, given the bearish flag breach.
LTC/USD 60-minute chart
Price action formed a head and shoulder structure and has breached the neckline, inviting further downside pressure.
Spot rate: 40.38
Relative change: -2.30%
High: 41.77
Low: 40.22
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