Litecoin Technical Analysis: LTC/USD comes within a touching distance of 2018 lows, stages modest recovery

• LTC/USD touches fresh 10-day low at $74.30, recovers above $76 in the last hour before testing 2018 low at $72.50.
• RSI indicator on the 4-hour chart suggests that the recovery is a technical correction rather than a fundamentally supported rise.

LTC/USD 4-hour chart

Spot rate:                  76.05

Relative change:        -5.5%

High:                         80.55

Low:                          74.30

Trend:                      Bearish

Support 1:                 72.50 (2018 low/ Jun. 29 low).

Support 2:                 64.70 (Nov. 17, 2017, low/horizontal level)..    

Support 3:                 57.75  (Nov. 11/10 low/horizontal level).    

Resistance  1:            82 (20-DMA).

Resistance 2:            90 (Fibo. 38.2% retracement of Jun. 9 – 29 fall).

Resistance 3:            100/103 (psychological level/Fibo. 61.8% retracement of Jun. 9 – 29 fall)