Litecoin Technical  Analysis: LTC/USD let there be a breakout, price action indicates just that in narrowing pennant

• Litecoin price was nursing losses in the latter stages of Friday by over 2%, after the price failed to breakdown a supply area.
• LTC/USD was unable to further capitalize on the chunky bidding seen at the back end of Thursday’s session, the price however did reach the highest levels seen since 5th September.
• Litecoin did rally on Thursday thanks to CoinText adding support for the use of its service in the U.S and Canada.

LTC/USD 4-hour chart  

Spot rate:                   62.930

Relative change:       -2.18%

High:                          64.981

Low:                           60.700

Trend:                         Bearish

Support 1:                  60.650, support on 4-hour chart.

Support 2:                  59.180, 50MA (4-hour).

Support 3:                  56.850, ascending trend line & 100MA (4-hour).

Resistance  1:             62.780, resistance on 4-hour chart.

Resistance  2:             64.600,supply area.

Resistance  3:             65.620, 27th September high.