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Litecoin Chart Analysis: LTC/USD maintains bullish tone but still needs to break $50.87

LTC is up 10% in the last 48 hours.
The current uptrend could be stopped by the resistance level at $50.87.
LTC/USD has experienced a significant surge in trading volume on most exchanges.

FXStreet Team FXStreet

LTC/USD daily chart

After a clear bull break on May 30, LTC/USD is now trading at around $49.58, inches away from the $50 resistance level, and the crucial $50.87 resistance point set on May 4. Bulls managed to break above the daily 12-EMA and the 26-EMA which also crossed bullishly.

Rejection of $50.87 can still hinder the current uptrend. So far, Litecoin has only been following the movement of Bitcoin and Ethereum, and it’s still at their mercy. A clear break above $50.87 can quickly push LTC up to $60.

LTC/USD 4-hour chart

Litecoin is inside a clear and robust 4-hour uptrend where bulls can look at all the higher lows as support levels. The nearest support level, however, is the 12-EMA currently set at $47.91, followed by the 26-EMA at $46.84. The RSI is overextended and will need to cool off eventually, but it won’t necessarily stop the bulls from breaking $50.

LTC/USD technical levels

LTC/USD

Overview
Today last price	49.4997
Today Daily Change	1.2193
Today Daily Change %	2.53
Today daily open	48.2804

Trends
Daily SMA20	44.254
Daily SMA50	44.2869
Daily SMA100	45.6321
Daily SMA200	49.9754

Levels
Previous Daily High	48.8872
Previous Daily Low	45.3553
Previous Weekly High	45.3078
Previous Weekly Low	41.7519
Previous Monthly High	50.0012
Previous Monthly Low	39.3673
Daily Fibonacci 38.2%	47.538
Daily Fibonacci 61.8%	46.7045
Daily Pivot Point S1	46.1281
Daily Pivot Point S2	43.9758
Daily Pivot Point S3	42.5963
Daily Pivot Point R1	49.66
Daily Pivot Point R2	51.0395
Daily Pivot Point R3	53.1918

Author

FXStreet Team

FXStreet

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