LTC/USD danger still lurks for the price

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  • Litecoin price on Monday is trading in negative territory by 0.15% in the second half of the session. 
  • LTC/USD price action is moving within a very narrow range, capped by the $70 region.
  • The price has formed a bearish technical structure via the daily, flag pattern, subject to a breach.

 

Spot rate:                  70.11

Relative change:      -0.15%

High:                         71.99

Low:                          69.55

LTC/USD daily chart

  • Price action via the daily chart view is trading within a bearish flag pattern, vulnerabilities are tilted to the downside. 

LTC/USD 60-minute chart

  • LTC/USD via the near-term view breached an ascending trend line of support, a retest appears to be in play, a rejection could invite another wave of selling pressure. 

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