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Litecoin Technical Analysis: LTC/USD further danger in the waiting



  • Litecoin price was holding modest gains of some 0.7% into the second half of Wednesday’s session. 
  • LTC/USD price action has formed a bearish pennant pattern, subject to an extended move south. 
  • Weekly support still holding, around the June 2017 low area.


LTC/USD 60-minute chart 


Spot rate:                 33.53

Relative change:      +0.70%

High:                         38.00

Low:                          31.52


Trend:                       Bullish/Neutral


Support 1:                 32.88, lower trend line of pennant pattern.

Support 2:                 31.50, demand area.

Support 3:                 29.77, daily pivot point support.

Resistance 1:            34.20, upper trend line of pennant pattern.

Resistance 2:            37.02, daily pivot point resistance.

Resistance 3:            41.14, daily pivot point resistance.  


LTC/USD weekly chart

  • Weekly support still being tested around the June 2017 low area, a breach and close below could be punishing. 


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