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.