Litecoin Technical Analysis: LTC/USD danger looms, as pace of fall likely to speed up within the steep descending channel

  • Litecoin price was seen trading firmly in the red by over 2% on Tuesday, after the price was further bitten by bears.
  • LTC/USD stuck within a steep descending channel, no signs of escape yet. 



LTC/USD 60-minute chart


Spot rate:                   53.179

Relative change:       -2.23%

High:                          54.763

Low:                           53.004


Trend:                        Bearish


Support 1:                  52.000, support on 60-minute chart.

Support  2:                 50.650,lower part of descending channel.

Support  3:                 50.000, psychological level.

Resistance 1:            54.400, 50MA.

Resistance 2:            54.880, 100MA & upper part of descending channel.

Resistance 3:            56.750, resistance 60-minute chart.



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.