Ken Chigbo
Independent Analyst
- Litecoin price is trading in the green in the session by some 3.15%.
- LTC/USD is on its way to the next major area of support down at $20.
- Rallies continue to be sold given the stubborn bearish trend of which Litecoin remains within.
LTC/USD weekly chart
Price action is running at its sixth consecutive week in the red, a lack of signage this will change anytime soon.
LTC/USD daily chart
Earlier in the week, LTC/USD smashed out from a bearish pennant structure, a retest was eyed, however, it may have just fallen short, with the selling resuming.
Spot rate: 39.56
Relative change: -3.20%
High: 41.16
Low: 39.15
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