LTC/USD subject to a breakout from bearish pennant

  • Litecoin price nursing losses over 2% in early part of Thursday.
  • LTC/USD price action moving within a bearish pennant pattern, subject to a break lower.

 

LTC/USD 60-minute chart 

 
 

Spot rate:                  33.86

Relative change:      -2.08%

High:                         35.01

Low:                          32.58

 

Trend:                         Bearish

 

Support 1:                  33.61, lower part of pennant. 

Support 2:                  31.51, daily pivot point support.

Support 3:                  30.42, daily pivot point support.

Resistance 1:             34.71, upper part of pennant.

Resistance 2:             35.69, daily pivot point resistance.

Resistance 3:             36.78, daily pivot point resistance.

 

LTC/USD weekly chart

  • LTC/USD weekly chart shows price flirting with vital support level around $33, RSI is oversold, a bounce could be around the corner. 

 

Crypto Destroyer