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Litecoin Price Analysis: LTC/USD break of $50 would be devastating

  • Litecoin price is trading in negative territory by 4.50% in the session on Friday. 
  • LTC/USD has been pushing south for two consecutive weeks, with bears in control.
  • The 2020 gains at risk of a reversal, which has been the case since the bearish evening star formation. 
Litecoin Price Analysis: LTC/USD break of $50 would be devastating
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Following the deadly evening star formation in the week of 14 February, downside pressure has been observed. 

LTC/USD daily chart

The price is consolidating, for now, following three deep sessions to the south for LTC/USD earlier in the week. 

Spot rate:                58.82

Relative change:    -4.50%

Hgh:                         63.36

Low:                         56.60

LTC/USD

Overview
Today last price58.263
Today Daily Change-3.4576
Today Daily Change %-5.60
Today daily open61.7206
 
Trends
Daily SMA2074.4469
Daily SMA5065.7752
Daily SMA10054.8718
Daily SMA20059.6571
 
Levels
Previous Daily High65.5255
Previous Daily Low57.336
Previous Weekly High80.6896
Previous Weekly Low66.0609
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%62.3971
Daily Fibonacci 61.8%60.4643
Daily Pivot Point S157.5292
Daily Pivot Point S253.3378
Daily Pivot Point S349.3397
Daily Pivot Point R165.7187
Daily Pivot Point R269.7168
Daily Pivot Point R373.9082

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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