Litecoin Technical  Analysis: LTC/USD on the slippery slope south, as the bears continue to sell rallies

• Litecoin was seen trading broadly flat on Monday, as the bears sold the gains seen over the weekend.
• LTC/USD is moving within a descending wedge pattern, not enough momentum for a break higher as of yet.

LTC/USD 60-minute chart

Spot rate:                                    0.47752

Relative change:               -0.25%

High:                                                   0.48090

Low:                                                      0.47320

Trend:                                                 Neutral

Support 1:                                  81.935, 23.6% Fibonacci & (support on 60-minute chart).

Support 2:                                    80.896, today’s (Monday) low.    

Support 3:                                  78.177, lower part of descending wedge.  

Resistance  1:                        82.765, 50 & 100MA.

Resistance 2:                         83.418, 38.2% Fibonacci.

Resistance 3:                          84.450, upper part of descending wedge.