LTC/USD head and shoulders pattern in progress, here come the bears

  • Litecoin price nursing losses on Friday in the late part of the session, down some 0.70%.
  • LTC/USD has seen a breakout and retest of a head and shoulders pattern. The neckline has been breached, eyes on further potential downside. 

LTC/USD 15-minute chart

  • The price broke out to the downside from a rising wedge pattern formation. 

Spot rate:                  31.78

Relative change:      -0.60%

High:                         33.09

Low:                          31.40




Trend:                        Bearish/Neutral 


Support 1:                  31.09, daily pivot point support.

Support 2:                  30.15, daily pivot point support.

Support 3:                  28.91, daily pivot point support.

Resistance 1:             33.27, daily pivot point resistance.

Resistance 2:             34.51, daily pivot point resistance.

Resistance 3:             35.45, daily pivot point resistance.


LTC/USD 60-minute chart 

  • A clearer view of the neckline break and retest. Price action has forms a bearish evening star candlestick. 

LTC/USD daily chart

  • Price action is still very much supported by an ascending trend line via the daily. 

Crypto Destroyer

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