Litecoin Technical Analysis: LTC/USD narrowing price action spelling further danger
|- Litecoin price on Thursday remains in the bears control, nursing losses of over 3% on the day.
- LTC/USD price action is narrowing, suggesting another plunge south could very much be on the cards.
LTC/USD 15-minute chart
- Price action is narrowing within a triangular pattern formation, subject to a potential break south.
Spot rate: 29.90
Relative change: -3.22%
High: 32.25
Low: 29.78
Trend: Bearish
Support 1: 29.33, daily pivot point support.
Support 2: 27.78, daily pivot point support.
Support 3: 26.31, daily pivot point support.
Resistance 1: 32.35, daily pivot point resistance.
Resistance 2: 33.81, daily pivot point resistance.
Resistance 3: 35.36, daily pivot point resistance.
LTC/USD 60-minute chart
- LTC/USD is moving within a range-block, another bearish potential confluence.
LTC/USD daily chart
- Candlestick on 24th December formed a bearish shooting star, leading to further cooling.
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