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Litecoin Technical Analysis: LTC/USD jumps over 12% in an hour, CoinText extends SMS payment service to Litecoin

Litecoin price jumped over 12% in just over an hour of after trading on Thursday.
CoinText an SMS crypto payment service, has announced they will be looking at adding Litecoin to its list of facilitation cryptocurrencies.
LTC/USD saw an extended breakout to the upside from a rising channel pattern as seen on the 60-minute chart.

Ken Chigbo Independent Analyst

LTC/USD 60-minute chart

Spot rate: 61.981

Relative change: +8.26%

High: 64.501

Low: 56.679

Trend: Bullish.

Resistance 1: 64.500, former drop acting support area & now session high.

Resistance 2: 65.000, resistance on 60-minute chart.

Resistance 3: 67.900, 1 September high.

Support 1: 60.533, on top of broken channel.

Support 2: 58.805, support on 60-minute chart.

Support 3: 57.525, lower trend line of channel.

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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