Litecoin Technical Analysis: LTC/USD big daily rejection

  • Litecoin was trading down chunky 5.5% in the latter stages of Friday's session.
  • LTC/USD price dealt a big rejection on the daily, by descending trend line.
  • Given mentioned rejection, price is heading to test the recently formed bottom area. Key support around the $27 mark.

LTC/USD daily chart

 
 

Spot rate:                  31.74

Relative change:      -5.5%

High:                         34.29

Low:                          31.04

 

Trend:                        Bearish

 

Support 1:                  31.42, daily pivot point support.

Support 2:                  29.90, daily pivot point support.

Support 3:                  27.13, 25 November low.

Resistance 1:             34.10, descending trend line.

Resistance 2:             35.19, daily pivot point resistance.

Resistance 3:             36.71, daily pivot point resistance.

 

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