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Litecoin Technical Analysis: LTC/USD despite modest pick up, a bearish flag is forming, to dampen hopes of a substantial pullback



  • Litecoin bounces to trade in positive territory, modest gains seen of 1%.
  • LTC/USD price action is forming a bearish flag pattern, which could invite bears to further selling. 


LTC/USD 60-minute chart


Spot rate:                   62.920

Relative change:       1.22%

High:                         64.079

Low:                          59.987

Trend:                        Bullish

Support 1:                 60.955, entrance to demand zone.

Support 2:                 60.880, 8th August low. 

Support 3:                 60.000, psychological support. 

Resistance 1:            64.055, supply area & current high of session.

Resistance 2:            64.250, (resistance on 60-minute chart).

Resistance 3:            65.558, 50MA.



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