Litecoin Technical  Analysis: LTC/USD danger looms, as pace of fall likely to speed up within the steep descending channel

• Litecoin price was seen trading firmly in the red by over 2% on Tuesday, after the price was further bitten by bears.
• LTC/USD stuck within a steep descending channel, no signs of escape yet.  

LTC/USD 60-minute chart

Spot rate:                    53.179

Relative change:        -2.23%

High:                           54.763

Low:                            53.004

Trend:                         Bearish

Support 1:                   52.000, support on 60-minute chart.

Support    2:                  50.650,lower part of descending channel.

Support    3:                  50.000,  psychological level.

Resistance 1:             54.400, 50MA.

Resistance 2:             54.880, 100MA & upper part of descending channel.

Resistance 3:             56.750, resistance 60-minute chart.