Litecoin Technical Analysis: LTC/USD rockets out from a bullish pennant, highest levels in over three weeks, coin transactions spike

  • Litecoin price on Tuesday sees huge out performance, jumping over 4%.
  • LTC/USD rallies out from a bullish pennant pattern that was initially containing bulls. 
  • Litecoin transactions spiked higher over the past few days, to highest levels seen since February.

 

LTC/USD 4-hour chart


 


Spot rate:                  68.396

Relative change:       +4.35%

High:                          69.160

Low:                           65.378

 

Trend:                        Bullish

 

Resistance 1:            69.160, today's (Tuesday) high.

Resistance 2:            72.470, bottom of consolidation range seen 5-6 August.

Resistance 3:            75.122, 7th August high before large selling.

Support 1:                  67.810, 1st September high.

Support  2:                 65.525, above broken pennant.

Support  3:                 64.250, 2nd & 3rd bottom area.

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