Technical analysis of Litecoin: LTC / USD here we go, since the price rockets are higher than the descending wedge model

  • Litecoin's price recorded strong gains of around 2.5% on Wednesday, with a fair push in the middle of the week.
  • The LTC / USD bulls have taken a step forward in a downward wedge model, however the price must now break down the barriers before $ 60.

60-minute LTC / USD chart

Spot rate: 57.875

Relative change: + 2.58%

High: 59.773

Low: 55.439

Trend: bullish

Resistance 1: 59.05, (resistance on 60-minute graph).

Resistance 2: 59.70-95, barrier in front of $ 60.

Resistance 3: 60.00, psychological resistance.

Support 1: 56.624, 100MA.

Support 2: 56.0401, 50MA.

Support 3: 54.728, on top of the broken wedge.

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