Litecoin Technical Analysis: LTC/USD receives decent boost from buyers just below $75, but upside looks limited given large barriers ahead

• Litecoin price was seen holding on to decent gains on Wednesday of almost 4%, after demand zone came into play to prop price back up.
• Despite the advance for LTC/USD in the session, the upside may be limited, as there are several obstructing barriers ahead.
• Given the technical resistance levels seen, it may be a while before Litecoin is back above $100.

LTC/USD 60-minute chart

Spot rate:                                     78.55

Relative change:               +3.64%

High:                                                   79.61

Low:                                                       74.88

Trend:                                                 Bullish

Resistance 1:                           79.70, 50 & 100MA.

Resistance 2:                          82.80, supply zone entry.

Resistance 3:                           87.50, 50% Fibonacci & descending trend line.

Support 1:                                  74.88, today’s (Wednesday) low & demand zone.

Support 2:                                    73.30, 24th June low.

Support 3:                                    71.75, (support on 60-minute chart).