Home Litecoin Technical Analysis: LTC/USD has light at end of tunnel despite losses on the day
Crypto News

Litecoin Technical Analysis: LTC/USD has light at end of tunnel despite losses on the day

  • 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

Trends:
       Daily SMA20:  50.8086
       Daily SMA50:  42.7701
       Daily SMA100:  36.6338
       Daily SMA200:  44.538
Levels:
       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.  

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.