Litecoin Technical Analysis: LTC/USD bulls breakout from stubborn descending trend line, daily close above is vital for further upside

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  • Litecoin seen some up a chunky 6% on Wednesday, with signs of a recovery from the recent causalities.
  • LTC/USD bulls have dipped their horns above a stubborn descending trend line, that had been containing upside.

 

LTC/USD 30-minute chart

 

 

Spot rate:                   57.044

Relative change:       +5.15%

High:                          57.794

Low:                           54.150

Trend:                        Bullish

 

Resistance 1:             59.858, (resistance on 4-hour chart).

Resistance 2:             60.407, 50MA.

Resistance 3:             64.150, supply zone.

Support 1:                  55.350, above breached pennant.

Support  2:                 54.750, (support on 4-hour chart).

Support  3:                 51.690, 14th August low.

 

 

 

 

 

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