Litecoin Technical Analysis: LTC/USD head and shoulders pattern in progress, here come the bears
|- Litecoin price nursing losses on Friday in the late part of the session, down some 0.70%.
- LTC/USD has seen a breakout and retest of a head and shoulders pattern. The neckline has been breached, eyes on further potential downside.
LTC/USD 15-minute chart
- The price broke out to the downside from a rising wedge pattern formation.
Spot rate: 31.78
Relative change: -0.60%
High: 33.09
Low: 31.40
Trend: Bearish/Neutral
Support 1: 31.09, daily pivot point support.
Support 2: 30.15, daily pivot point support.
Support 3: 28.91, daily pivot point support.
Resistance 1: 33.27, daily pivot point resistance.
Resistance 2: 34.51, daily pivot point resistance.
Resistance 3: 35.45, daily pivot point resistance.
LTC/USD 60-minute chart
- A clearer view of the neckline break and retest. Price action has forms a bearish evening star candlestick.
LTC/USD daily chart
- Price action is still very much supported by an ascending trend line via the daily.
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