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LTC / USD further danger in the waiting

  • 0.75 into the second half of Wednesday's session.
  • LTC / USD price action has formed a bearish pennant pattern, subject to an extended move south.
  • Weekly support still holding, around the June 2017 low area.

LTC / USD 60-minute chart

Spot rate: 33.53

Relative change: + 0.70%

High: 38.00

Low: 31.52

Trend: Bullish / Neutral

Support 1: 32.88, lower trend line of pennant pattern.

Support 2: 31.50, demand area.

Support 3: 29.77, daily pivot point support.

Resistance 1: 34.20, upper trend line of pennant pattern.

Resistance 2: 37.02, daily pivot point resistance.

Resistance 3: 41.14, daily pivot point resistance.

LTC / USD weekly chart

  • A short stay, a breach and a close below could be punishing.

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