Home Litecoin Technical Analysis: LTC/USD moving within a descending wedge pattern, ahead, taking a brief retreat to the south, before it jumps back on the bull train

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Litecoin Technical Analysis: LTC/USD moving within a descending wedge pattern, ahead, taking a brief retreat to the south, before it jumps back on the bull train

FX Street

Updated: 19 Jul. 2018 | 18:11

Litecoin is nursing minor losses on Thursday of 0.6%, as bulls sit quietly for now.
LTC/USD price action has formed a descending wedge pattern, which is subject to potential break north.

LTC/USD 30-minute chart

Spot rate: 85.865

Relative change: -0.30%

High: 88.901

Low: 85.000

Trend: Neutral/Bearish

Resistance 1: 87.336, 50MA.

Resistance 2: 88.385, 100MA.

Resistance 3: 88.666, upper part of wedge.

Support 1: 84.443, 50% Fibonacci.

Support 2: 83.804, lower part of wedge pattern.

Support 3: 82.000, 61.8% Fibonacci.

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