Litecoin Technical Analysis: LTC/USD odds stacked in favor of the bears

  • Litecoin price on Friday is trading down in the second half of the session, some 1.8%. 
  • LTC/USD price action has extended to the downside, through the ascending trend line support. 

 

LTC/USD 15-minute chart

  • Price action moving within a narrow range-block formation, subject to a further break lower. 

 

 

Spot rate:                  33.04

Relative change:      -1.80%

High:                         33.93

Low:                          32.31

 

Trend:                        Bearish 

 

Support 1:                  30.71, daily pivot point support.

Support 2:                  27.88, daily pivot point support.

Support 3:                  23.43, daily pivot point support.

Resistance 1:             37.99, daily pivot point resistance.

Resistance 2:             42.45, daily pivot point resistance.

Resistance 3:             45.28, daily pivot point resistance.

LTC/USD 4-hour chart

  • LTC/USD price broke-out and retested the long-running ascending trend line. The price is hugged fairly tightly to this. 

LTC/USD daily chart

  • Pressure remains to the downside after a breach of key ascending trend line. 

 

 

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