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

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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