Litecoin technical analysis: LTC/USD rallied 12% to the upside, but runs into heavy supply zone, support caught at 61.8% Fibonacci
|- Litecoin gains 12% midway in the US session, however upside was cut short by heavy supply zone within the early to mid-$120 region.
- The RSI went well into overbought territory, pushing above 80, where sellers then entered the market.
- Current price action has received some support above a descending trend line, running from 25th May.
LTC/USD 30-minute chart
Spot rate: 120.00
Relative change: +8.25%
High: 122.90
Low: 109.40
Trend: Bullish/Neutral
Resistance 1: 120.00
Resistance 2: 122.10 heavy supply zone that held back upside on 26th May.
Resistance 3: 122.95 today’s high (Tuesday).
Support 1: 118.70, on top of descending trend line and 61.8% Fibonacci.
Support 2: 117.00 50% Fibonacci.
Support 3: 115.15 38.2% Fibonacci.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.