Litecoin Technical Analysis: LTC/USD shakes of the scare and sees promising breakout from a descending wedge
|- Litecoin price sees chunky jump to the upside of 5% on Thursday, after renewed buying comes back to the market.
- LTC/USD made a decent breakout to the upside from a descending channel pattern.
LTC/USD 4-hour chart
Relative change: +5.06%
High: 55.278
Low: 51.644
Trend: Bullish
Resistance 1: 54.580, 50MA.
Resistance 2: 56.820, resistance on 4-hour chart.
Resistance 3: 57.700, entrance to supply zone.
Support 1: 53.255, on top of broken channel.
Support 2: 52.000, demand area.
Support 3: 49.150, lower trend line of channel & demand area.
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.