LTC/USD is subject to stronger bearish attack

Fibo Quantum

  • Litecoin price in the second half of the day on Wednesday is trading in the red down around 2.70%.
  • LTC/USD bears are testing a pennant structure to the downside, support observed around $90. 
  • Should the bears force a breach to the downside of the noted support, then it could open a fresh strong wave of selling pressure. 

 

Spot rate:                  90.48

Relative change:      -2.70%

High:                         94.43

Low:                          90.16

LTC/USD 60-minute chart

  • Price action is being supported by a near-term demand zone seen from $91 to $89.50 range, via the 60-minute. 

 

LTC/USD daily chart

  • A bearish penannt structure is subject to a potential breach by the sellers. 

Wood Profits Banner>