Litecoin Technical Analysis: LTC/USD is saved for now, but the weekend may bring further selling
- Litecoin price trading down with minor losses of 0.7% into the latter stages of the session on Friday.
- LTC/USD trading within a narrow range, low seen at $22, high of range $27.
LTC/USD 15-minute chart
Spot rate: 22.99
Relative change: -0.70%
High: 23.71
Low: 22.52
Trend: Bearish
Support 1: 22.54, daily pivot point support.
Support 2: 21.99, daily pivot point support.
Support 3: 21.01, daily pivot point support.
Resistance 1: 24.07, daily pivot point resistance.
Resistance 2: 25.05, daily pivot point resistance.
Resistance 3: 25.60, daily pivot point resistance.
LTC/USD 60-minute chart
- A descending trend line is seen just ahead as a potential barrier for any bull recovery. Resistance tracking around $23.60 area.
LTC/USD 4-hour chart
- Price action is capped to the upside by near-term supply above at $27, with supported kept to a minimum at $22.
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.
