- 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.
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