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  • Litecoin’s price on Wednesday was an underperformer late in the session, down some 2%
  • LTC/USD price action via the daily chart view despite the minor losses is still moving within a bullish pennant pattern formation.

Spot rate:                  55.90

Relative change:       -2.05%

High:                         57.20

Low:                          54.90

       Daily SMA20:  50.8086
       Daily SMA50:  42.7701
       Daily SMA100:  36.6338
       Daily SMA200:  44.538
       Previous Daily High:  57.3935
       Previous Daily Low:  52.8137
       Previous Weekly High:  59.5887
       Previous Weekly Low:  45.1089
       Previous Monthly High:  53.9838
       Previous Monthly Low:  30.8359
       Daily Fibonacci 38.2%:  55.644
       Daily Fibonacci 61.8%:  54.5632
       Daily Pivot Point S1:  54.0798
       Daily Pivot Point S2:  51.1568
       Daily Pivot Point S3:  49.5
       Daily Pivot Point R1:  58.6597
       Daily Pivot Point R2:  60.3166
       Daily Pivot Point R3:  63.2396

LTC/USD 60-minute chart

  • Price action via the 60-minute chart view is struggling to breakdown the $56.50-57.50 range.  
  • LTC/USD has not been above this territory since Sunday, providing to be a near-term barrier.  

LTC/USD daily chart

  • LTC/USD price action is moving within the confinements of a bullish pennant pattern formation.  
  • Should the bulls manage to capitalize on the above, a decent breakout north could be observed.