Litecoin Price Analysis: LTC bulls battle eight-month-old resistance line


  • LTC/USD eases from the highest since late-February, keeps the 70.00 threshold.
  • Overbought RSI, failures to cross the key resistance line lure high-risk sellers.

LTC/USD steps back from the multi-day high to 76.67 as buyers catch a breather by Monday’s end. Even so, the quote marks over 13.00% gains while stepping back from an upward sloping trend line from March 07, 2020.

Not only the failures to cross the key resistance line but overbought RSI conditions also push brakes on the crypto major’s further buying. Though, the quote stays above the 70.00 round-figure, which in turn serves as a trigger for the fresh short-term selling.

Should LTC/USD bears manage to keep the reins below the 70.00 threshold, Friday’s peak near 66.65 and the early-November high around 64.75 can entertain them ahead of highlighting a two-week-old support line, currently near 60.70.

On the contrary, a clear run-up past-71.85 level, comprising the stated resistance line, will escalate the trading momentum towards the 80.00 psychological magnet.

Though, February 23 peak and the yearly top, respectively around 80.50 and 84.40, can please the LTC/USD optimists afterward.

LTC/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 70.5266
Today Daily Change 8.1687
Today Daily Change % 13.10%
Today daily open 62.3579
 
Trends
Daily SMA20 58.4306
Daily SMA50 52.88
Daily SMA100 53.376
Daily SMA200 49.6679
 
Levels
Previous Daily High 64.4597
Previous Daily Low 61.1117
Previous Weekly High 66.6348
Previous Weekly Low 57.152
Previous Monthly High 60.6599
Previous Monthly Low 43.444
Daily Fibonacci 38.2% 62.3907
Daily Fibonacci 61.8% 63.1808
Daily Pivot Point S1 60.8265
Daily Pivot Point S2 59.2951
Daily Pivot Point S3 57.4784
Daily Pivot Point R1 64.1745
Daily Pivot Point R2 65.9911
Daily Pivot Point R3 67.5225

 

 

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