Litecoin Technical Analysis: LTC/USD has the opportunity for upside, but bulls must capitalize or be punished

• Litecoin price trading down over 2% into the session on Thursday, after starting the session higher.
• LTC/USD had formed a double bottom pattern formation as seen on the daily chart view.  
• Failure to hold $27-26 demand zone can see a very fast fall down to the deep south.

LTC/USD daily chart

Spot rate:                   28.25

Relative change:       -2.25%

High:                          30.33

Low:                           27.73

Trend:                         Bearish

Support 1:                   28.07, daily pivot point support.

Support 2:                   27.23, daily pivot point support.

Support 3:                   25.63, daily pivot point support.

Resistance 1:              30.50, upper part of current range block.

Resistance  2:              32.10, daily pivot point resistance.

Resistance  3:              32.93, daily pivot point resistance.

LTC/USD  60-minute chart

• Litecoin Technical Analysis: LTC/USD has the opportunity for upside, but bulls must capitalize or be punished