Search ForexCrunch
  • Litecoin price trading down around 2% in the early part of Tuesday’s session, price struggles to hold gains seen at the daily open.
  • LTC/USD via the 60-minute chart view has formed a head and shoulders pattern, subject to a potential breakout south.
  • Neckline of above-mentioned pattern seen at around $28.70, a breach could open the door for another chunky drop.  

 

LTC/USD 60-minute chart  

 

 
 

Spot rate:                   29.01

Relative change:       -2.20%

High:                          30.34

Low:                           28.58

 

Trend:                         Bearish

 

Support 1:                   28.70, neckline of h & s pattern.

Support 2:                   27.62, daily pivot point support.

Support 3:                   25.74, daily pivot point support.

Resistance 1:              31.78, daily pivot point resistance.

Resistance  2:              34.06, neckline of double bottom.  

Resistance  3:              35.94, daily pivot point resistance.

 

LTC/USD daily chart

  • The bearish trend remains firm, as any daily session seen in the green, is the day after sold. Bulls are incapable of sustaining any upside momentum for now.