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Litecoin Price Analysis: LTC/USD explosive breakout eyed

  • Litecoin price is trading in negative territory by 3.10% in the session on Wednesday. 
  • LTC/USD bulls giving up ground after two straight days in the green. 
  • A critical range breakout is nearing, but the price could still very much go either way.
Litecoin Price Analysis: LTC/USD explosive breakout eyed
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

A bearish flag structure is viewable via the daily chart, which if capitalized on by the bears, will spark another round of selling. 

LTC/USD 60-minute chart

Price action via the 60-minute chart view has breached a near-term critical trend line of support. It can now be seen consolidating within a bearish flag structure, at risk of breach south. 

Spot rate:                39.06

Relative change:    -3.10%

High:                        41.15

Low:                         38.22

LTC/USD

Overview
Today last price39.1038
Today Daily Change-1.5998
Today Daily Change %-3.93
Today daily open40.7036
 
Trends
Daily SMA2042.9278
Daily SMA5059.8865
Daily SMA10055.0361
Daily SMA20056.0743
 
Levels
Previous Daily High41.0418
Previous Daily Low38.397
Previous Weekly High43.9228
Previous Weekly Low29.277
Previous Monthly High84.4232
Previous Monthly Low56.6073
Daily Fibonacci 38.2%40.0315
Daily Fibonacci 61.8%39.4073
Daily Pivot Point S139.0532
Daily Pivot Point S237.4027
Daily Pivot Point S336.4084
Daily Pivot Point R141.6979
Daily Pivot Point R242.6922
Daily Pivot Point R344.3426

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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