Litecoin Technical Analysis: LTC/USD price behaviour suggesting of another breakout to the downside, with $100 mark once again in the eyes of the bears

  • The Litecoin price was further hit on Tuesday, dropping 2%, after running into resistance around $108.
  • Supply zone preventing a break higher, tracking from $107.60-108.40.
  • Bearish pennant pattern can be seen forming on the 30-minute chart.


LTC/USD 60-minute chart

Spot rate:                    104.70

Relative change:         – 2.05%

High:                            108.24

Low:                            104.08


Trend:                          Bearish



Support 1:                   104.03, lower trend line of pennant.

Support 2:                   103.00, entry of demand zone.

Support 3:                   102.40, 29th May low.  

Resistance 1:              105.75, 50MA.

Resistance 2:              106.60, supply zone entry.

Resistance 3:              107.50, upper trend line of pennant.  







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