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Litecoin Price Analysis: LTC/USD cannot break $69-66 or it will be punished heavily

  • Litecoin price is trading in positive territory by 6.30% in the session on Friday. 
  • LTC/USD has caught some near-term respite, but the bias remains to the downside. 
  • Upside appears to be very much limited, with near-term rallies being sold. 
Litecoin Price Analysis: LTC/USD cannot break $69-66 or it will be punished heavily
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

The price is at risk of a trend reversal, following a weekly evening star closure last week. LTC is heading for a close below this, which would be a bearish signal. 

LTC/USD daily chart

Critical demand seen at the $69-66 price range, failure to hold would be punishing. 

Spot rate:                73.69

Relative change:    +6.30%

High:                        75.30

Low:                         68.71

LTC/USD

Overview
Today last price73.6915
Today Daily Change4.1378
Today Daily Change %5.95
Today daily open69.5537
 
Trends
Daily SMA2074.5144
Daily SMA5061.9404
Daily SMA10054.0673
Daily SMA20060.4337
 
Levels
Previous Daily High72.3451
Previous Daily Low66.0609
Previous Weekly High84.4232
Previous Weekly Low72.4372
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%68.4615
Daily Fibonacci 61.8%69.9445
Daily Pivot Point S166.2947
Daily Pivot Point S263.0357
Daily Pivot Point S360.0106
Daily Pivot Point R172.5789
Daily Pivot Point R275.6041
Daily Pivot Point R378.8631

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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