Litecoin Technical Analysis: LTC/USD big game changing barrier just ahead, with price moving to the upside within rising wedge

  • Litecoin price seen up with decent gains of 2.5% on Thursday. upbeat sentiment observed across the market.
  • LTC/USD moving to the upside within a rising wedge pattern. Descending trend line resistance see just ahead.
  • New cryptocurrency exchange, ErisX, readying to offer Litecoin futures and others. 

LTC/USD 60-minute chart 

 
 

Spot rate:                  58.993

Relative change:      +2.47%

High:                         59.420

Low:                          57.393

Trend:                       Bullish.

Resistance 1:            58.884, 100MA descending trend line.

Resistance 2:            59.900, upper part of wedge pattern.

Resistance 3:            61.400, 2nd October high & supply area.

Support 1:                 58.435, lower trend line of channel.

Support 2:                 56.725, support on 60-minute chart.

Support 3:                 56.440, demand zone. 

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