Litecoin Technical Analysis: LTC/USD shakes of the scare and sees promising breakout from a descending wedge

  • Litecoin price sees chunky jump to the upside of 5% on Thursday, after renewed buying comes back to the market. 
  • LTC/USD made a decent breakout to the upside from a descending channel pattern. 




LTC/USD 4-hour chart 


Spot rate:                   54.243

Relative change:       +5.06%

High:                          55.278

Low:                           51.644


Trend:                        Bullish


Resistance 1:            54.580, 50MA.

Resistance 2:            56.820, resistance on 4-hour chart.

Resistance 3:            57.700, entrance to supply zone. 

Support 1:                  53.255, on top of broken channel.

Support  2:                 52.000, demand area. 

Support  3:                 49.150, lower trend line of channel & demand area.


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