Litecoin Technical Analysis: LTC/USD can't escape the deadly technical structure
|- Litecoin price on Friday seen holding gains of over 2% in the latter part of the session.
- LTC/USD remains stuck within stubborn 3-week trading range, not enough commitment.
- The daily chart view could be eyed as a bearish flag formation.
LTC/USD 15-minute chart
- LTC/USD slips out from an ascending channel formation, after price hit near-term resistance.
Spot rate: 32.27
Relative change: +2.35%
High: 32.71
Low: 30.83
Trend: Bearish
Support 1: 30.97, daily pivot point support.
Support 2: 30.41, daily pivot point support.
Support 3: 29.64, daily pivot point support.
Resistance 1: 32.29, daily pivot point resistance.
Resistance 2: 33.06, daily pivot point resistance.
Resistance 3: 33.62, daily pivot point resistance.
LTC/USD 60-minute chart
- Price ran into sellers heading into the $33 price area, a known supply zone.
LTC/USD daily chart
- Bears can be seen gunning towards that big key area of demand, near-term initially this can be seen $0.3000-0.2800.
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