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Litecoin technical analysis: LTC/USD narrowing price action could be a warning from the bears

  • Litecoin price is trading in negative territory, nursing losses of some 0.50% on Friday.
  • LTC/USD price action is narrowing, subject to potential explosive breakouts. 
  • The price is moving within a bearish pennant via the daily, as seen with some of its peers. 
Litecoin technical analysis: LTC/USD narrowing price action could be a warning from the bears
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 92.94

Relative change:      -0.50%

High:                         94.28

Low:                          90.21

LTC/USD 60-minute chart

  • Price action is narrowing within a triangular structure via the 60-minute view. 

LTC/USD daily chart

  • There are bearish pennant structure's seen across the market, cooking up further potential drops. 

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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