Litecoin Technical Analysis: LTC/USD worrying signs are still clearly displayed, with narrowing price action, ahead of next potential plummet

• Litecoin is seen holding very modest gains on Monday, up just some 0.7% at the start of the week.  
• Despite the initial gains, price action formation still appears to be worrying.  
• LTC/USD price range has narrowed, after the heavy selling pressure last week, it could be the bears taking a break ahead of further downside.  

LTC/USD daily chart

Spot rate:                    59.719

Relative change:        +0.70%

High:                           60.547

Low:                            58.657

Trend:                         Bullish  
 

Resistance 1:              60.150, 100MA.

Resistance 2:             60.500, supply entrance.

Resistance 3:             61.300, (resistance on 60-minute chart).  

Support 1:                  58.699, 50MA.

Support 2:                  57.655, (support on 60-minute chart).

Support 3:                  55.555, demand zone, low area of 11th August.