Litecoin Technical Analysis: LTC/USD elevated levels may not be seen for a while now, bears will hold firm grip

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  • Litecoin price on Friday was once was back under pressure, nursing losses of over 2%.
  • LTC/USD likely to be stuck in a new narrowed range, ahead of another potential drop south to test $50.

 

 

LTC/USD 4-hour chart 

Spot rate:                   56.387

Relative change:       -2.01%

High:                          58.482

Low:                           55.043

 

Trend:                        Bearish

 

Support 1:                  55.284, near-term supporting trend line.

Support  2:                 55.013, double bottom, potential triple.

Support  3:                 53.950, 22 August low & demand zone.

Resistance 1:            57.300, resistance on 4-hour chart

Resistance 2:            57.950, supply zone.

Resistance 3:            58.550, 25/26 high area & session high (Friday).

 

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