- Litecoin price on Tuesday was seen holding decent gains of 1.2% through the mid-point of the session.
- LTC/USD price action broke out from a bullish pennant pattern formation.
- Panel of nine experts via Finder’s cryptocurrency report, median forecast for Litecoin seen at $57.
- Next major barrier for the bulls will be to break down $55-56 range to open door for further buying pressure.
- Worth noting, the previous 4-hour candle has produced somewhat of a bearish gravestone doji.
LTC/USD 4-hour chart
Spot rate: 54.300
Relative change: +1.26%
Resistance 1: 55.200, supply zone.
Resistance 2: 56.050, resistance on 4-hour.
Resistance 3: 55.772, daily pivot point resistance.
Support 1: 54.010, on top of breached pennant.
Support 2: 53.113, lower supporting trend line of pennant.
Support 3: 52.708, daily pivot point support.