LTC/USD bulls have to breakout from pennant or be punished

• Litecoin price is trading in the green in the session by some 4.05%. 
• LTC/USD is moving within a very narrowing pennant structure, edging towards a breakout. 
• Price action is capped to the upside at $58 and supported the downside at $54.

 

LTC/USD daily chart

Price action is moving within a bearish pennant structure, heavily resistance observed at $57.

LTC/USD 60-minute chart

Heavy supply can be seen at the $57-58 price range via the 60-minute chart view. 

 

Spot rate:                  57.15

Relative change:      +4.05%

High:                         57.18

Low:                          53.30