Litecoin Technical  Analysis: LTC/USD breakout is due, but price is going to need to fall some more

• Litecoin was seen up on Tuesday a decent 4% in the latter stages of the session.
• LTC/USD price action is moving within a descending wedge pattern, subject to a breakout.  

LTC/USD 4-hour chart  

Spot rate:                    54.169

Relative change:        +3.98%

High:                           55.569

Low:                            50.428

Trend:                         Bullish

Resistance 1:              54.340, 50MA (4-hour).

Resistance 2:              55.100,  upper part of wedge.

Resistance 3:              57.570, 100MA (4-hour).

Support 1:                   50.513, lower part of wedge.

Support    2:                  50.000,  psychological support.  

Support    3:                  47.288, 12th September low.