Litecoin Technical  Analysis: LTC/USD bears pile on to pressure, after producing a vulnerability

• Litecoin price licking its wounds on Monday, after being bitten again by the bears, down 2%.
• LTC/USD further moves south following a breakout from an ascending trend line.
• 61.8% Fibonacci will be eyed as a key potential area for a bounce.  

LTC/USD 4-hour chart  

Spot rate:                   59.841

Relative change:       -2.25%

High:                          62.089

Low:                           59.249

Trend:                        Bearish

Support 1:                  58.710, 61.8% Fibonacci.

Support 2:                  57.000,consolidation area 26 – 27 September.

Support 3:                  54.410. 25 September low.

Resistance  1:             61.300, 38.2% Fibonacci.

Resistance  2:             61.880, underneath broken ascending trend line.

Resistance  3:             63.000, supply zone.