Home Litecoin LTC/USD stuck within a channel to the south, however bulls are itching for a hike back north
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Litecoin LTC/USD stuck within a channel to the south, however bulls are itching for a hike back north

  • Litecoin price was seen nursing some minor losses in the latter stages of trading on Thursday, down some 0.15%.
  • LTC/USD price action has formed a descending channel pattern, subject to an imminent breakout higher.  
  • Near-term demand zone helping keep price afloat, providing that required cushion.  

 

LTC/USD 60-minute  chart  


 

Spot rate:                   52.120

Relative change:       -0.15%

High:                          52.590

Low:                           51.935

 

Trend:                        Neutral/Bearish

 

Support 1:                  52.050, demand zone.

Support  2:                  51.830, 23 October low area.

Support  3:                  50.000,  psychological  support.

Resistance  1:             52.150, upper part of channel.

Resistance  2:             52.305, 60-minute resistance.

Resistance  3:             52.900,   supply area.

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