LTC/USD near-term life kicked into bulls but may prove to be unsustainable

Fibo Quantum

  • Litecoin price is trading in positive territory by 2.300% in the session on Tuesday. 
  • LTC/USD is running at two consecutive sessions in the green. 
  • There is still some risk due to a bearish pennant/flag structure via the daily. 

LTC/USD daily chart

Price action still remains narrow, as has been the case since 13 March, with the risk of bears capitalizing on the noted pennant/flag. 

LTC/USD 60-minute chart

A decent wave of upside momentum was seen, thanks to a bullish breakout of a pennant via the 60-minute. 

Spot rate:                40.15

Relative change:    +2.30%

High:                        40.84

Low:                         38.39