Litecoin Price Analysis: LTC has consolidated in the mid 40's as we await the next move


  • Litecoin trades 3.37% higher as crypto market sentiment remains firm.
  • The price has converged into a triangle pattern and we must wait for a break.

LTC/USD 30-minute chart

Litecoin has had a great run and now the price has consolidated somewhat. The price has started to make some lower highs along with some higher lows. This then creates a triangle pattern and the market must now wait for a break for clues to the future direction. There are more support zones to the downside that bulls need to be aware of but the trend is still up.

Looking closer at the technicals, the pair is trading above the 55 and 200 moving averages. Importantly if the price breaks the pattern to the upside the next resistance is at 47.69 the previous wave high. The volume is looking low at the moment but that is to be expected when the price moves toward the apex of the pattern. The highest volume spike was to the downside, the bulls would be happy if the pattern breaks higher with a good pick up in volume.

Litecoin Triangle Pattern

Additional levels

LTC/USD

Overview
Today last price 46.165
Today Daily Change 1.3581
Today Daily Change % 3.03
Today daily open 44.8069
 
Trends
Daily SMA20 39.7006
Daily SMA50 49.8978
Daily SMA100 54.9927
Daily SMA200 54.0203
 
Levels
Previous Daily High 47.6578
Previous Daily Low 43.7027
Previous Weekly High 43.0368
Previous Weekly Low 37.0298
Previous Monthly High 63.9927
Previous Monthly Low 24.9467
Daily Fibonacci 38.2% 45.2136
Daily Fibonacci 61.8% 46.147
Daily Pivot Point S1 43.1205
Daily Pivot Point S2 41.434
Daily Pivot Point S3 39.1654
Daily Pivot Point R1 47.0756
Daily Pivot Point R2 49.3443
Daily Pivot Point R3 51.0307

 

 

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