Ken Chigbo
Independent Analyst
- 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.
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