LTC/USD near-term vulnerabilities point to the downside

• Litecoin price is trading in positive territory by some 0.15% in the session on Tuesday. 
• LTC/USD like many of its peers is moving within consolidation mode, ahead of next committed moves. 
• Near-term price action demonstrates some vulnerabilities to the downside for Litecoin. 

 

LTC/USD daily chart

The daily candlesticks continue to wick and catch support in the $55 zone. Failure to hold could see the price slammed back down to $50. 

LTC/USD 60-minute chart

Price action is moving within a near-term bearish flag structure, subject to a breakout south.

 

Spot rate:                 57.28

Relative change:    +0.30%

High:                        57.98

Low:                         56.82