Litecoin technical analysis: LTC / USD potentially mortally bearish under construction

• Wednesday's Litecoin price sees trade firmly in the green, rising just 2% in the session.
• LTC / USD as Bitcoin has formed a head and shoulder model, with the left shoulder and head formed, right shoulder currently under construction.

Chart 60 minutes LTC / USD

Spot rate: 58.648

Relative change: + 1.91%

High: 58.932

Low: 56.436

Trend: bullish.

Resistance 1: 58.550, supply area entrance.

Resistance 2: 58.800, 100MA (60 minutes).

Resistance 3: 59.085, resistance on 60 minutes and high 24 September.

Support 1: 56.990, 50MA (60 minutes).

Support 2: 55.793, neckline, growing trend line.

Support 3: 51.900, required area.