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

• 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).