- Litecoin price on Wednesday nursing losses of some 2.8% towards latter part of the day.
- Like a number of its peers, LTC/USD price action is moving within a bearish pennant structure.
- A breach of the psychological $30 mark could be catastrophic, inviting a new wave of selling pressure.
Spot rate: 30.13
Relative change: -2.80%
Support 1: 30.00, lower part of pennant.
Support 2: 29.72, daily pivot point support.
Support 3: 28.50, daily pivot point support.
Resistance 1: 33.31, upper part of pennant & daily pivot point.
Resistance 2: 34.53, daily pivot point resistance.
Resistance 3: 36.24, 28 November high.
LTC/USD 60-minute chart
- The 60-minute chart view shows how close LTC/USD is reliant on the lower support of the pennant.