Litecoin TechnicalÂ Analysis: LTC/USD crashes lower to give back the big end August advance

Litecoin price on Thursday is dealing with losses of over 5%, after taking a beating of around 20% in the past two sessions.
LTC/USD came crashing down into vital support, around the $53 region, after losing an arm and a leg.Â

LTC/USD 60-minute chartÂ

Spot rate:Â Â Â Â Â Â Â Â Â Â 54.894

Relative change:Â Â Â Â -5.02%

High:Â Â Â Â Â Â Â Â Â Â Â Â Â 57.911

Low:Â Â Â Â Â Â Â Â Â Â Â Â Â Â 53.914

Trend:Â Â Â Â Â Â Â Â Â Â Â Â Bearish

Support 1:Â Â Â Â Â Â Â Â Â 54.600,Â support on 60-minute chart.

SupportÂ Â 2:Â Â Â Â Â Â Â Â Â 53.901, session low (Thursday) & 22 August.

SupportÂ Â 3:Â Â Â Â Â Â Â Â Â 53.250, very back end of demand zone & 21st August bottom.

Resistance 1:Â Â Â Â Â Â Â 55.470, resistance on 60-minute chart.

Resistance 2:Â Â Â Â Â Â 57.250, supply area.

Resistance 3:Â Â Â Â Â Â 58.500, top area for 25/27 August.Â Â