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  • Litecoin saw bulls wake up on Tuesday, after taking some beating in the previous session. Seen up over 1%.
  • LTC/USD bulls could potentially be gunning for a retest, after the bearish breakout from the pennant  pattern.  
  • Should a rejection at the retest be observed, then further selling pressure could follow.

 

LTC/USD 4-hour chart  

 

Spot rate:                   49.254

Relative change:       +1.17%

High:                          51.864

Low:                           47.693

 

Trend:                        Bullish

 

Resistance:                50.000, psychological resistance.

Resistance:                51.671, underneath breached pennant & 50MA.

Resistance:                52.550, 100MA (4-hour).

Support 1:                  48.450, support (4-hour).

Support  2:                  47.210, monthly low.  

Support  3:                  46.960, daily pivot point support.