Litecoin Technical Analysis: LTC/USD price behaviour suggesting of another breakout to the downside, with $100 mark once again in the eyes of the bears
|- The Litecoin price was further hit on Tuesday, dropping 2%, after running into resistance around $108.
- Supply zone preventing a break higher, tracking from $107.60-108.40.
- Bearish pennant pattern can be seen forming on the 30-minute chart.
LTC/USD 60-minute chart
Spot rate: 104.70
Relative change: - 2.05%
High: 108.24
Low: 104.08
Trend: Bearish
Support 1: 104.03, lower trend line of pennant.
Support 2: 103.00, entry of demand zone.
Support 3: 102.40, 29th May low.
Resistance 1: 105.75, 50MA.
Resistance 2: 106.60, supply zone entry.
Resistance 3: 107.50, upper trend line of pennant.
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