Home 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
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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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