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Litecoin technical analysis: LTC / USD shakes with fright and sees promising breakout from a descending wedge

  • The price of Litecoin marks a massive increase of 5% on Thursday, after renewed purchases are back on the market.
  • LTC / USD made a decent upward turn from a downward channel model.

LTC / USD 4 hour chart

Spot rate: 54,243

Relative change: + 5.06%

High: 55.278

Low: 51.644

Trend: uptrend [19659005]

Resistance 1: 54,580, 50MA.

Resistance 2: 56.820, resistance on the 4-hour chart.

Resistance 3: 57,700, entry to the refueling area.

Support 1: 53.255, at the top of the interrupted channel.

Support 2: 52,000, required area.

Support 3: 49.150, lower trend line of the channel and demand area.

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