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Litecoin Price Analysis: LTC/USD drops below triangle formation as bears take control.

  • The price has found support on the SMA 50 curve.
  • The Elliott Oscillator shows sustained bullish momentum.
Litecoin Price Analysis: LTC/USD drops below triangle formation as bears take control.
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD daily chart

LTC/USD daily chart

LTC/USD dropped from $44.30 to $44.05 as the bears retained their control for the second straight day. The price is currently consolidating underneath the triangle formation and has found support at the SMA 50 curve. The Elliott Oscillator shows that despite the recent bearish price action, the overall market sentiment remains bullish.

To take back control, the bulls must overcome resistance at SMA 20, $46.55, and $48.80. On the downside, the price is well supported at $42.50 and $39.80.

Key levels

LTC/USD

Overview
Today last price44.1108
Today Daily Change-0.0877
Today Daily Change %-0.20
Today daily open44.1985
 
Trends
Daily SMA2045.1711
Daily SMA5043.8465
Daily SMA10049.4298
Daily SMA20050.9859
 
Levels
Previous Daily High46.183
Previous Daily Low43.0352
Previous Weekly High46.971
Previous Weekly Low39.3673
Previous Monthly High50.8723
Previous Monthly Low37.1813
Daily Fibonacci 38.2%44.2377
Daily Fibonacci 61.8%44.9806
Daily Pivot Point S142.7615
Daily Pivot Point S241.3245
Daily Pivot Point S339.6138
Daily Pivot Point R145.9093
Daily Pivot Point R247.62
Daily Pivot Point R349.057


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Litecoin Price Analysis: LTC/USD drops below triangle formation as bears take control.