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Litecoin Price Analysis: LTC/USD critical daily support at $30 risk of being tested

Litecoin price is trading in negative territory by 2.60% in the session on Wednesday.
LTC/USD is moving within a narrowing nature, pennant pattern subject to a breakout.
There is another drop very much looming, with the psychological $30 mark acting as the gateway.

Ken Chigbo Independent Analyst

LTC/USD daily chart

Pullbacks in the price have continued to be sold via the daily chart view, these have presented opportunities for the bears to short.

LTC/USD 60-minute chart

rice action is narrowing within a range-block, the low support down at $32.50, resistance to the upside notable at $35.00.

Spot rate: 33.30

Relative change: -2.60%

High: 34.88

Low: 32.40

LTC/USD

Overview
Today last price	33.3048
Today Daily Change	-0.9160
Today Daily Change %	-2.68
Today daily open	34.2208

Trends
Daily SMA20	50.6673
Daily SMA50	63.8976
Daily SMA100	55.454
Daily SMA200	57.0536

Levels
Previous Daily High	36.064
Previous Daily Low	32.5951
Previous Weekly High	60.5491
Previous Weekly Low	24.9467
Previous Monthly High	84.4232
Previous Monthly Low	56.6073
Daily Fibonacci 38.2%	34.7388
Daily Fibonacci 61.8%	33.9202
Daily Pivot Point S1	32.5226
Daily Pivot Point S2	30.8244
Daily Pivot Point S3	29.0537
Daily Pivot Point R1	35.9915
Daily Pivot Point R2	37.7622
Daily Pivot Point R3	39.4604

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 daily chart

LTC/USD 60-minute chart

LTC/USD

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