Litecoin Price Prediction: LTC/USD sandwiched between prominent support and resistance levels. - Confluence Detector
|- LTC/USD was trading at $89.20 when markets opened this Tuesday.
- Further movement seems difficult since strong resistance and support levels hamper the price.
LTC/USD opened at $89.20 when markets opened this Tuesday. LTC/USD bears had a stranglehold on the market this Monday and brought the price down from $92 to $89.60. The daily confluence detector shows that further movement seems difficult since strong resistance and support levels hamper the price.
LTC/USD Daily Confluence Detector
The resistance levels are at $89.50, $90.50, and $94. The confluences at those levels are:
- $89.50: 15-min Previous Low, 10-day simple moving average (SMA 10), 4-hour previous high, SMA 5, and daily previous low.
- $90.50: Weekly 23.6% Fibonacci retracement level.
- $94: Daily Bollinger band upper curve and daily 61.8% Fibonacci retracement level.
The support levels are at $89, $86, and $84.50. The confluences at those levels are:
- $89: 5-day simple moving average (SMA 5), daily pivot point support 1, hourly Bollinger band middle curve, and hourly previous low.
- $86: Monthly pivot point resistance 3.
- $84.50: Weekly 38.2% Fibonacci retracement level.
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