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Litecoin Price Analysis: LTC/USD bulls heading for game changing flag retest

  • Litecoin price is trading in positive territory by 3.35 % in the session on Thursday. 
  • LTC/USD has extended to the upside, following the strong gains that come into play on Wednesday. 
  • The price is set for another critical test of a big area of resistance just ahead at $45-46.
Litecoin Price Analysis: LTC/USD bulls heading for game changing flag retest
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Bulls will now be pushing for a retest of the breached daily flag structure, the original breakout was observed on 13 April and a retest on 18 April.

LTC/USD 60-minute chart

Price action smashed out to the upside from a bull flag structure, inviting a fresh wave of upside momentum. 

Spot rate:               43.41

Relative change:  +3.35%

High:                      44.00

Low:                       41.03

LTC/USD

Overview
Today last price43.4156
Today Daily Change1.5434
Today Daily Change %3.69
Today daily open41.8722
 
Trends
Daily SMA2042.3765
Daily SMA5042.3593
Daily SMA10054.6081
Daily SMA20052.481
 
Levels
Previous Daily High42.3885
Previous Daily Low40.3423
Previous Weekly High43.767
Previous Weekly Low37.9812
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%41.6068
Daily Fibonacci 61.8%41.1239
Daily Pivot Point S140.6802
Daily Pivot Point S239.4881
Daily Pivot Point S338.6339
Daily Pivot Point R142.7264
Daily Pivot Point R243.5805
Daily Pivot Point R344.7726

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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