Litecoin Technical Analysis: LTC/USD here we go, as price rockets higher out from descending wedge pattern

Fibo Quantum

  • Litecoin price was holding strong gains of around 2.5% on Wednesday, with a decent push through the middles of the week. 
  • LTC/USD bulls made a breakthrough a descending wedge pattern, however price must now break down barriers ahead of $60.



LTC/USD 60-minute chart


Spot rate:                   57.875

Relative change:       +2.58%

High:                          59.773

Low:                           55.439


Trend:                        Bullish

Resistance 1:            59.05, (resistance on 60-minute chart). 

Resistance 2:            59.70-95, barrier ahead of $60. 

Resistance 3:            60.00, psychological resistance. 

Support 1:                 56.624, 100MA. 

Support  2:                56.0401, 50MA.  

Support  3:                54.728, on top of broken wedge. 




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