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Litecoin Technical Analysis: LTC/USD crafting a reversal doji

Litecoin price nursing huge losses of 9.5% in the latter stages of Monday's session.
LTC/USD smashed out to the downside from a supporting ascending trend line. This had been running from 25th November.

Ken Chigbo Independent Analyst

LTC/USD 4-hour chart

Spot rate: 30.45

Relative change: -9.65%

High: 33.69

Low: 29.76

Trend: Bearish

Support 1: 29.86, 4-hour support.

Support 2: 27.75, demand zone.

Support 3: 26.91, monthly low.

Resistance 1: 33.15, breached ascending trend line.

Resistance 2: 34.77, daily pivot point resistance.

Resistance 3: 35.96, daily pivot point resistance.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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