LTC/USD Price Prediction: Bulls face a stack of resistances up front – Confluence Detector

• LTC/USD is priced at $82 as markets opened this Friday.
• With enough momentum, bulls can take LTC/USD up to $86.

LTC/USD bears have eked out the bulls as markets opened this Friday, trading at $82. This Thursday, the LTC/USD bulls had a field day, taking the price up from $79 to $82.37, reaching a high of $83.75. The confluence detector shows us that with enough momentum, bulls can take LTC/USD up to $86. On the downside, the market is sitting on the $82 support level.

LTC/USD Daily Confluence Detector

Significant resistance levels lie at $83.20-$84, $86, and $88.50. The confluences at those levels are at:

• $83.20-$84: Weekly 38.2% Fibonacci retracement level, 100-day simple moving average curve (SMA 100), 4-hour previous high, and daily previous high.
• $86: Monthly pivot point resistance 3.
• $88.50: Weekly 61.8% Fibonacci retracement level.

Support levels are at $82, $80.50, and $80.25. The confluences at those levels are:

• $82: Hourly Bollinger band middle curve, SMA 10, hourly previous low, and 4-hour previous low.
• $80.50: SMA 5, SMA 10, and SMA 50.
• $80.25: Weekly 23.6% Fibonacci retracement level and SMA 50.