Litecoin Technical Analysis: LTC/USD is subject to another return deep sub-$30, if range-block is exposed by bears
- Litecoin price on Tuesday is seen nursing minor losses in the session, down around 1%.
- LTC/USD is showing some vulnerabilities to the downside, eyes on potential support below $30.
LTC/USD 15-minute chart
- Price action is ranging, following the aggressive spike higher on Monday.
Spot rate: 32.00
Relative change: -0.95%
High: 32.65
Low: 31.64
Trend: Bullish
Support 1: 30.49, daily pivot point support.
Support 2: 28.66, daily pivot point support.
Support 3: 27.33, daily pivot point support.
Resistance 1: 33.65, daily pivot point resistance.
Resistance 2: 34.98, daily pivot point resistance.
Resistance 3: 36.81, daily pivot point resistance.
LTC/USD 4-hour chart
- Price action is moving within a potential bullish flag formation, subject to a breakout to the upside. Price may have to initially return sub-$30, where next big buying area is eyed.
LTC/USD daily chart
- Since key daily trend line break, price action has been in consolidation mode, for the past four sessions.
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.
