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Litecoin Technical Analysis: LTC/USD another rejection from descending trend line, key supporting $72 area is still vulnerable to a breach

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  • Litecoin is seen up just some 1% on Tuesday, upside was capped by a strong descending trend line. 
  • LTC/USD upside consistently of late looks liable to bears selling the rallies, given the longer-term trend remaining intact.

 

 

LTC/USD 60-minute chart


 

Spot rate:                   74.253

Relative change:       +0.95%

High:                         75.150

Low:                          73.160

Trend:                        Bearish 
 

Support 1:                 74.110, 50MA.

Support 2:                 72.810, entrance to demand zone.

Support 3:                 72.155, 4th and 5th August low, (9-month low).

Resistance 1:            75.100, descending trend line & supply zone.

Resistance 2:            77.055, (resistance on 60-minute chart).

Resistance 3:            78.140, 4th August high.

 

 

 

 

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