Litecoin Technical Analysis: LTC/USD bearish flag pattern lingers, pending another attack from the market bears, $60 is a very big support area

• Litecoin is nursing losses of over 2% on Friday, a lack of rest from the selling pressure.
• LTC/USD price action has formed a bearish flag, subject to a potential breakout to the downside.

LTC/USD 60-minute chart

Spot rate:                    61.809

Relative change:        -1.80%

High:                           63.109

Low:                            60.733

Trend:                         Bearish
 

Support 1:                  61.250, (support on 60-minute chart).

Support 2:                  60.750, demand zone.

Support 3:                    60.000,  8th August low.

Resistance 1:             62.570, 50MA.

Resistance 2:             63.830, (resistance on 60-minute chart).

Resistance 3:             64.55, supply area.