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Litecoin Price Analysis: LTC/USD bulls lose control with $55-50 critical support eyed

  • Litecoin price is trading in negative territory by some 3.50% in the session on Thursday. 
  • LTC/USD have lost momentum for now, as price retreats to critical demand zone. 
  • The price is running towards its second consecutive session in the red. 
Litecoin Price Analysis: LTC/USD bulls lose control with $55-50 critical support eyed
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

There is a strong level of resistance noted at the $60 price mark via the daily. LTC/USD has not traded above this since mid-November. 

LTC/USD 60-minute chart

Hourly support can be observed at the $55 territory, failure to hold could prove to be punishing. 

Spot rate:                56.32         

Relative change:    -3.25%

High:                        58.39

Low:                         54.73

LTC/USD

Overview
Today last price56.6993
Today Daily Change-1.3994
Today Daily Change %-2.41
Today daily open58.0987
 
Trends
Daily SMA2045.8807
Daily SMA5044.4177
Daily SMA10050.3892
Daily SMA20067.1009
 
Levels
Previous Daily High60.2216
Previous Daily Low55.266
Previous Weekly High49.6266
Previous Weekly Low42.6396
Previous Monthly High48.5063
Previous Monthly Low35.9836
Daily Fibonacci 38.2%57.159
Daily Fibonacci 61.8%58.3285
Daily Pivot Point S155.5026
Daily Pivot Point S252.9065
Daily Pivot Point S350.547
Daily Pivot Point R160.4582
Daily Pivot Point R262.8176
Daily Pivot Point R365.4137

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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