Litecoin (LTC/USD) Technical Analysis: Bullish Signs Displayed on 4-hour Chart

Fibo Quantum

  • The Litecoin (LTC) price is seen as an out-performer in comparison to some of its peers, up over 1%.
  • LTC/USD price action formed a descending channel pattern, current 4-hour candlestick making a break above. 

 

LTC/USD 4-hour chart 


 

Spot rate:                  52.995

Relative change:      +1.05%

High:                         53.060

Low:                          52.093

 

Trend:                       Bearish/Neutral

 

Resistance 1:           53.275, 50MA (4-hour).

Resistance 2:           53.906,resistance on 4-hour chart.

Resistance 3:           55.000, supply area.

Support 1:                52.615, descending channel.

Support 2:                51.567, lower part of channel & support. 

Support 3:                50.250, demand area.

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