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.
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