Litecoin Technical Analysis: LTC/USD a failure of $30 holding again could be deadly
- Litecoin price was seen holding modest gains in the latter stages of Tuesday, up just some 1%.
- LTC/USD price action is moving within a rising channel formation, subject to a possible break south.
- A failure of $30 holding could be catastrophic for Litecoin, a fresh wave of selling may come into play.
LTC/USD 4-hour chart
Spot rate: 30.96
Relative change: +1.05%
High: 32.10
Low: 29.74
Trend: Bullish
Resistance 1: 33.01, daily pivot point resistance.
Resistance 2: 35.31, daily pivot point resistance.
Resistance 3: 36.94, daily pivot point resistance.
Support 1: 30.60, lower part of rising channel.
Support 2: 29.08, daily pivot point support.
Support 3: 27.45, daily pivot point support.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
