Litecoin Technical Analysis: LTC/USD on the slippery slope south, as the bears continue to sell rallies

  • Litecoin was seen trading broadly flat on Monday, as the bears sold the gains seen over the weekend.
  • LTC/USD is moving within a descending wedge pattern, not enough momentum for a break higher as of yet.

 

LTC/USD 60-minute chart

 

Spot rate:                   0.47752

Relative change:         -0.25%

High:                           0.48090

Low:                            0.47320

 

Trend:                         Neutral

 

 

Support 1:                   81.935, 23.6% Fibonacci & (support on 60-minute chart).

Support 2:                   80.896, today’s (Monday) low.   

Support 3:                  78.177, lower part of descending wedge.  

Resistance 1:            82.765, 50 & 100MA.

Resistance 2:             83.418, 38.2% Fibonacci.

Resistance 3:             84.450, upper part of descending wedge.   

 

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