Litecoin technical analysis: LTC/USD bears regain control

Fibo Quantum

  • Litecoin price is trading in the red in the session by some 1.50%. 
  • LTC/USD stuck within a narrowing range-block formation, subject to downside risks. 
  • Price action is capped to the upside at $58 and supported the downside at $54, within tight conditions. 

 

LTC/USD daily chart

The daily price action still indicates further pressure to the south, should the bears force a daily closure below the noted range block formation. 

LTC/USD 60-minute chart

The price is subject to giving back the gains of Monday and retesting the below ascending trend line, in proximity to the lower part of the current daily range. 

 

Spot rate:                  57.15

Relative change:      -1.50%

High:                         58.55

Low:                          56.84