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Litecoin Technical Analysis: LTC/USD is saved for now, but the weekend may bring further selling

  • Litecoin price trading down with minor losses of 0.7% into the latter stages of the session on Friday.  
  • LTC/USD trading within a narrow range, low seen at $22, high of range $27.

 

LTC/USD 15-minute chart


 

 

Spot rate:                   22.99

Relative change:       -0.70%

High:                          23.71

Low:                           22.52

 

 

Trend:                         Bearish

 

Support 1:                   22.54, daily pivot point support.

Support 2:                   21.99, daily pivot point support.

Support 3:                   21.01, daily pivot point support.

Resistance 1:              24.07, daily pivot point resistance.

Resistance  2:              25.05, daily pivot point resistance.

Resistance  3:              25.60, daily pivot point resistance.

 

LTC/USD 60-minute chart

  • A descending trend line is seen just ahead as a potential barrier for any bull recovery. Resistance tracking around $23.60 area.

LTC/USD 4-hour chart

  • Price action is capped to the upside by near-term supply above at $27, with supported kept to a minimum at $22.

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