Litecoin Price Analysis: LTC/USD bumpy ride stalls at $75 as bears swing in action

• Litecoin bulls risk losing control entirely to the bulls, especially if the support at $70 is broken.
• The 50 SMA is in line to offer support if the key ascending channel support gives to selling pressure.

Spot rate: $73

Relative change: -.2392

Percentage change: -1.67%

Trend: Bullish bias

Volatility: High

LTC/USD daily chart

Litecoin price lock-step upward trend stalls at $75, leaving room for the bears to breathe.

The formed rising wedge pattern hints that a reversal could be imminent in the near term.

LTC/USD 4-hour chart

Litecoin price sustains the uptrend in an ascending channel in spite of the up and down movements.

If the ongoing slump bounces off the channel support, LTC/USD could resume the uptrend above $75.

LTC/USD 1-hour chart

Litecoin is trading between the 50 SMA resistance and the 200 SMA support.

The main resistance at $75 must come down for Litecoin bulls to focus on higher levels towards $100.