Litecoin Technical Analysis: LTC/USD let there be a breakout, price action indicates just that in narrowing pennant
|- Litecoin price was nursing losses in the latter stages of Friday by over 2%, after the price failed to breakdown a supply area.
- LTC/USD was unable to further capitalize on the chunky bidding seen at the back end of Thursday's session, the price however did reach the highest levels seen since 5th September.
- Litecoin did rally on Thursday thanks to CoinText adding support for the use of its service in the U.S and Canada.
LTC/USD 4-hour chart
Relative change: -2.18%
High: 64.981
Low: 60.700
Trend: Bearish
Support 1: 60.650, support on 4-hour chart.
Support 2: 59.180, 50MA (4-hour).
Support 3: 56.850, ascending trend line & 100MA (4-hour).
Resistance 1: 62.780, resistance on 4-hour chart.
Resistance 2: 64.600,supply area.
Resistance 3: 65.620, 27th September high.
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