Litecoin Technical Analysis: LTC/USD forms a descending channel, but price takes a bounce from strong demand area and lower part of the pattern, upside eyed

  • Litecoin is seen nursing very minor losses of around 0.35% on Friday, after a week of sliding prices. 
  • LTC/USD has formed a descending channel pattern, with its drop seen of late.


LTC/USD 30-minute chart


Spot rate:                   75.849

Relative change:       -0.35%

High:                         76.148

Low:                          74.864

Trend:                        Bearish/Neutral



Support 1:                 75.790, entrance to demand zone.

Support 2:                 74.880, lower part of channel. 

Support 3:                 75.400, 50MA.

Resistance 1:            76.555, 100MA.

Resistance 2:            77.010, upper part of channel.

Resistance 3:            77.500, (resistance on 30-minute chart).




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