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LTC / USD death head and shoulders

  • 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.

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