Litecoin Technical Analysis: LTC/USD potential for a fast fall to $22 on the cards

  • Litecoin on Thursday nursing minor losses of around 1% in the second half of the session. 
  • LTC/USD daily chart view like several of its peers is forming a bearish flag pattern. 

LTC/USD 15-minute chart

  •  Decent near-term buying picked up within the $30.00 territory, preventing free-fall. 

 

Spot rate:                  31.33  

Relative change:      -0.96%

High:                         31.79

Low:                          30.20

 

Trend:                        Bearish 

 

Support 1:                 30.97, daily pivot point support.

Support 2:                 30.31, daily pivot point support.

Support 3:                 29.62, daily pivot point support.

Resistance 1:            32.31, daily pivot point resistance.

Resistance 2:            33.00, daily pivot point resistance.

Resistance 3:            33.00, daily pivot point resistance.

 

LTC/USD 60-minute chart

  • . Range-block formation, upper part of pattern seen at $33.25, low down at $30.00.

LTC/USD daily chart

  • Price action is moving within a range-block, following the prior week breakout from ascending trend line. 

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