LTC/USD rallies remain vulnerable to being sold in current trend

  • Litecoin price is trading in minor positive territory by some 2.7% in the session on Friday. 
  • LTC/USD is looking to snap the current four-session consecutive run of losses.
  • Critical near-term daily support should be noted at the $40-39 range. 

LTC/USD weekly chart

The weekly structure remains largely tilted to the downside, which has very much been the case since late June. 

LTC/USD daily chart

Price action via the daily chart view is moving within a descending channel structure. 

 

Spot rate:                  40.30

Relative change:      +2.70%

High:                          41.50

Low:                           39.61