Litecoin Technical  Analysis: LTC/USD bulls are back as they look to tackle vital near-term area for full recovery

• Litecoin price shoots higher by over 5% on Friday, as the bulls look set to recover recent losses.  
• LTC/USD sees some big demand returning at the psychological $50 area, also 18th September low area.  
• A break above $53.45-50 area could be the bulls on good course to reverse the 11th October drop.

LTC/USD 60-minute chart  

Spot rate:                   53.277

Relative change:        +5.00%

High:                          54.188

Low:                           50.891

Trend:                        Bullish

Resistance  1:            53.455, resistance on 60-minute & 50MA.

Resistance  2:            56.060, 100MA (60-minute).

Resistance  3:            57.975, pre-11 October fall area.  

Support 1:                 52.130, support on 60-minute chart.

Support  2:                 50.720, demand zone.  

Support  3:                 50.000, big psychological level & 18 September low area.