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


  • 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. 



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