Litecoin technical analysis: LTC/USD bears pressing for pennant retest

Fibo Quantum

  • Litecoin price is trading in the red, with losses of 4.30%  the session on Thursday.
  • LTC/USD daily price action is heading for a retest of a breached bull pennant. 
  • Critical support is eyed around the $60 price mark via the daily. 

 

LTC/USD daily chart

Bulls managed to break out to the upside from a bullish pennant structure on Monday, with a retest at present eyed. 

LTC/USD 60-minute chart

Price action has breached an hourly demand zone, retest in play at the time of writing. 

 

Spot rate:                  61.45

Relative change:      -4.25%

High:                         64.28

Low:                          60.22