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.

Ken Chigbo Independent 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 price	58.263
Today Daily Change	-3.4576
Today Daily Change %	-5.60
Today daily open	61.7206

Trends
Daily SMA20	74.4469
Daily SMA50	65.7752
Daily SMA100	54.8718
Daily SMA200	59.6571

Levels
Previous Daily High	65.5255
Previous Daily Low	57.336
Previous Weekly High	80.6896
Previous Weekly Low	66.0609
Previous Monthly High	70.0854
Previous Monthly Low	38.7677
Daily Fibonacci 38.2%	62.3971
Daily Fibonacci 61.8%	60.4643
Daily Pivot Point S1	57.5292
Daily Pivot Point S2	53.3378
Daily Pivot Point S3	49.3397
Daily Pivot Point R1	65.7187
Daily Pivot Point R2	69.7168
Daily Pivot Point R3	73.9082

Author

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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LTC/USD weekly chart

LTC/USD daily chart

LTC/USD

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