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

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  • 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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