Litecoin Technical  Analysis: LTC/USD crashes lower to give back the big end August advance

• Litecoin price on Thursday is dealing with losses of over 5%, after taking a beating of around 20% in the past two sessions.
• LTC/USD came crashing down into vital support, around the $53 region, after losing an arm and a leg.  

LTC/USD 60-minute chart  

Spot rate:                    54.894

Relative change:        -5.02%

High:                           57.911

Low:                            53.914

Trend:                         Bearish

Support 1:                   54.600,  support on 60-minute chart.

Support    2:                  53.901, session low (Thursday) & 22 August.

Support    3:                  53.250, very back end of demand zone & 21st August bottom.

Resistance 1:              55.470, resistance on 60-minute chart.

Resistance 2:             57.250, supply area.

Resistance 3:             58.500, top area for 25/27 August.