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Litecoin Technical Analysis: LTC/USD at a game changing area, make or break?

  • Litecoin price was under attack on Thursday, dropping as much 4%.
  • LTC/USD touches key ascending trend line, which has been running since 14th August.  
  • Price has been falling within a descending channel and arguable a bullish flag on a larger scale.  

 

 

LTC/USD 4-hour chart


 

Spot rate:                    59.180

Relative change:        -3.86%

High:                           61.667

Low:                            58.606

 

Trend:                         Bearish

 

Support 1:                   58.606, today’s (Thursday) low and key ascending trend line.  

Support    2:                  58.250, 50MA.

Support    3:                  57.332, 100MA.

Resistance 1:              59.799. resistance on 4-hour chart.

Resistance 2:             60.493, upper trend line of descending channel & 13th August high.

Resistance 3:             62.420,  18th August high.

 

 

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