Ken Chigbo
Independent Analyst
- Litecoin price on Wednesday makes a chunky jump of over 7% in the session.
- LTC/USD being cushioned near-term by an ascending trend line via the 15-minute chart view.
- Near-term barrier within the $25 territory is proving to be a problem for greater upside.
LTC/USD 15-minute chart
Spot rate: 24.99
Relative change: +7.27%
High: 25.21
Low: 23.23
Trend: Bearish
Support 1: 24.40, ascending trend line.
Support 2: 22.67, daily pivot point support.
Support 3: 21.94, daily pivot point support.
Resistance 1: 25.00, near-term supply.
Resistance 2: 25.45, daily pivot point resistance.
Resistance 3: 26.18, daily pivot point resistance.
LTC/USD 4-hour chart
- Bulls have managed to break above descending trend line, which was proving to be a tough line of resistance.
LTC/USD daily chart
- Bulls heading for first daily close in the green so far this week. They mus break above $25-26 area for greater upside.
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