Litecoin Technical Analysis: LTC/USD cools while bulls sharpen their horns

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  • Litecoin price on Monday was nursing losses of 1.5% in the latter stages of the session. 
  • LTC/USD price action has formed a bullish pennant pattern, like a number of its peers, within this current consolidation mode. 
  • Cooling in the price observed, after the decent run higher on Sunday. Bulls will be looking to capitalize after small pullback.  

 

LTC/USD 60-minute chart 


 
 

Spot rate:                  53.46

Relative change:      -1.45%

High:                         56.068

Low:                          50.634

 

Trend:                       Bearish

 

Resistance 1:           53.702, upper part of pennant.

Resistance 2:           54.861, 11 November high. 

Resistance 3:           55.500, supply area.

Support 1:                53.064, lower part of pennant. 

Support 2:                52.758, 50MA.

Support 3:                51.811, 2 November high & 100MA.

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