Litecoin LTC Technical Analysis: LTC/USD bears in full control, driving price to the south, after support breach

• Litecoin price was trading down some 2% towards the latter stages of Thursday.
• A cooling is observed across the crypto market, touted profit taking after the recent price rallies. 
• LTC/USD moving towards a daily close below key supporting ascending trend line.

 

 

LTC/USD daily chart 

 
 

Spot rate:                  52.90

Relative change:      -1.80%

High:                         54.66

Low:                          52.75

 

Trend:                       Bearish

 

Support 1:                52.78, daily pivot point support.

Support 2:                51.49, daily pivot point support.

Support 3:                49.61, daily pivot point support.

Resistance 1:           54.36, below breached ascending trend line.

Resistance 2:           55.91, daily pivot point resistance.

Resistance 3:           57.83, daily pivot point resistance.