LTC/USD price is vulnerable within a bearish pennant

Fibo Quantum

  • Litecoin price on Monday is trading in the green, up some 2.00%. 
  • LTC/USD price action is moving within consolidation mode, having formed a bearish pennant structure. 
  • Critical near-term demand at the $70 price mark is helping keep the price from further downside pressure.

Spot rate:                 73.62

Relative change:      +2.40%

High:                         75.52

Low:                          72.12

LTC/USD daily chart

  • Price action moving within a bearish pennant structure, subject to a breach. 


LTC/USD 60-minute chart

  • Upside is capped by supply around the $75 price region, downside supported at $70.