Litecoin technical analysis: LTC/USD bulls lose momentum this afternoon on Friday, as the price gives up gains, dropping 3% in an hour

• Litecoin flat on Friday after being up over 2%, to then losing ground and dropping 3%,  breaking out of a pennant pattern to the downside. Price currently retesting to push back through.
• LTC/USD broke out of the above-mentioned pattern, in-line with a drop in bullish momentum seen across the board this afternoon on Friday.
• Founder Charlie Lee tweeted, In lite of recent 51% attacks and http://crypto51.app   info, rest assured that the Litecoin is extremely secure and mining is very healthy.

LTC/USD 60-minute chart

Spot rate:                                     118.40

Relative change:               +0.13%

High:                                                    120.67

Low:                                                       116.60

Trend:                                                   Neutral

Resistance 1:                           118.60, lower trendline of pennant pattern.

Resistance 2:                           120.20, Upper inside of pennant pattern.  

Resistance 3:                           123.00, supply zone.

Support 1:                                   118.65, 50MA.

Support 2:                                     118.35, 100MA.

Support 3:                                     116.60, (support on 60-minute chart).