Litecoin Technical Analysis: LTC/USD enjoying some upside for now, but bears look to be in the wings waiting to attack, given current behaviour

• Litecoin seen holding decent gains on Wednesday of around 3.5%, but upside may be short-lived.
• LTC/USD price action has been moving within a rising wedge pattern, subject to a potential break lower.

LTC/USD 60-minute chart

Spot rate:                                    87.503

Relative change:               +2.92%

High:                                                   89.494

Low:                                                      83.390

Trend:                                                 Neutral

Resistance  1:                           91.600, upper part of wedge pattern.

Resistance 2:                          92.305, supply zone.    

Resistance 3:                           93.900, (resistance on 60-minute chart).

Support 1:                                  85.955, 50MA & demand zone.

Support 2:                                    83.050, 100MA & lower part of wedge pattern.

Support 3:                                    77.831, (support on 60-minunte chart).