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  • 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%

High:                          54.859

Low:                           52.870

 

Trend:                        Bullish

 

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.