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  • Litecoin builds on the gains made at the back-end of Tuesday’s session, holding a modest 2%.
  • The price bounced off the 200MA, which was tracking at $120.40.
  • LTC/USD price action has formed a bullish pennant formation, pending potential breakout to the upside.


LTC/USD 60-minute chart


Spot rate:                                     121.95

Relative change:               +1.95%                      

High:                                                       123.01

Low:                                                       118.79


Trend:                                                   Bullish/Neutral



Resistance 1:                           122.46, upper trend line of the bullish pennant formation.

Resistance 2:                           122.95, supply zone territory.

Resistance 3:                           124.23, 25th May high.

Support 1:                                   120.40, 200MA & lower part of pennant formation.

Support 2:                                    118.79, today’s (Wednesday) lows.

Support 3:                                    116.60, consolidation levels seen on 27th May.