LTC/USD pychological $50 is under threat

  • Litecoin price is trading in the red in the session by some 4.75%. 
  • LTC/USD bears are breaking out to the downside from a bearish flag structure. 
  • Given the above-noted breakout via the daily, the psychological $50 mark is likely in the sights of the bears. 

 

LTC/USD daily chart

The current daily candlestick is being driven by the bears, smashing out from a bearish flag pattern. 

LTC/USD 60-minute chart

Price action has smashed out from a bearish pennant structure, seeing a wave of selling pressure. 

 

Spot rate:                  52.04

Relative change:      -4.15%

High:                         59.49

Low:                          55.37

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