Litecoin Technical Analysis: LTC/USD big crash out of falling channel, $50 no more

  • Litecoin price crashed through key near-term support on Wednesday, down as much as 7%.
  • LTC/USD bears managed to breach the lower support of a falling channel, the price has seen a bounce, as it looks for retest underneath. 

 

 

LTC/USD 60-minute chart

 

Spot rate:                   48.418

Relative change:       -7.00%

High:                          52.062

Low:                           47.220

 

Trend:                        Bearish

 

Support 1:                  47.300, 11th September & session (Wednesday) low area.

Support  2:                 44.770, demand area & 21/22 2017 September low. 

Support  3:                 41.272, support on 60-minute chart.

Resistance 1:            49.665, underneath breached channel.

Resistance 2:            50.050, resistance on 60-minute chart.

Resistance 3:            52.080, 50MA & former demand area. 

 

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