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- The price negotiation of Litecoin fell by around 2% in the first part of Tuesday's session, the price struggles to keep gains seen at the daily opening.
- LTC / USD through the 60-minute chart visualization has formed a head and shoulders model, subject to a potential south breakout.
- Neckline of the aforementioned model seen at around $ 28.70, a breach could open the door for another big drop.
Chart 60 minutes LTC / USD
Spot rate: 29.01
Relative change: -2.20%
High: 30.34
Low: 28.58
Trend: bearish
Support 1: 28.70, neckline of the h & s pattern.
Support 2: 27.62, daily support of the articulation point.
Support 3: 25.74, daily support of the articulation point.
Resistance 1: 31.78, resistance to the daily rotation point.
Resistance 2: 34.06, double bottom neckline.
Resistance 3: 35.94, resistance at the daily articulation point.
LTC / USD daily table
- The downward trend remains steady, as every daily session seen in the green, is the day after sold. The bulls are not able to sustain any upward momentum for now.
