Home Litecoin Technical Analysis: LTC/USD Breaks Triangular Technical structure, Inviting More Sellers
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Litecoin Technical Analysis: LTC/USD Breaks Triangular Technical structure, Inviting More Sellers

  • Litecoin weighted to the downside on Monday, as price pressures continue across the board.
  • LTC/USD breaks out to the downside from a triangular pattern formation.
  • Market continues to observe a lack of commitment in either direction.  
  • Litecoin foundation set to upgrade their protocol in order to bring down transaction costs.  

 

LTC/USD 60-minute  chart  

 

Spot rate:                   52.098

Relative change:       -0.98%

High:                          53.000

Low:                           51.865

 

Trend:                        Bearish

 

Support 1:                 51.850, support on 60-minute chart.

Support  2:                 50.610, demand area.

Support  3:                 50.000, psychological  support level.  

Resistance  1:            52.380, underneath broken triangular pattern.

Resistance  2:            52.931, upper trend line of triangular pattern.  

Resistance  3:            53.700, supply zone.  

FX Street

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