Litecoin Technical Analysis: LTC/USD danger looms, as pace of fall likely to speed up within the steep descending channel

  • Litecoin price was seen trading firmly in the red by over 2% on Tuesday, after the price was further bitten by bears.
  • LTC/USD stuck within a steep descending channel, no signs of escape yet. 

LTC/USD 60-minute chart

 

Spot rate:                   53.179

Relative change:       -2.23%

High:                          54.763

Low:                           53.004

Trend:                        Bearish

Support 1:                  52.000, support on 60-minute chart.

Support  2:                 50.650,lower part of descending channel.

Support  3:                 50.000, psychological level.

Resistance 1:            54.400, 50MA.

Resistance 2:            54.880, 100MA & upper part of descending channel.

Resistance 3:            56.750, resistance 60-minute chart.

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