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.
LTC/USD 60-minute chart
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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.
