Litecoin Price Analysis: LTC/USD freefall to $60 seems imminent

  • Litecoin bulls are fighting to save the two-months uptrend in an upward channel.
  • Litecoin kick starts sideways trading action after defending 61.8% Fibonacci retracement level.

Spot rate: $72.27

Relative change: -135

Percentage change: 1.36%

Trend: Strongly bearish

Volatility: Shrinking

LTC/USD daily chart

 Litecoin recently climbed several barriers including $70 and $80. Although the focus was on $100, the high formed at $84 marked the end of the rally. The price has retreated to $72, besides the bulls are fighting to keep LTC above $70. The 50 SMA cross above the 100 SMA suggests that the buyers have not lost balance entirely as their influence is still present but lagging.

LTC/USD 4-hour

Litecoin price defends the 61.8% Fib level support of the last swing high at $84 to a swing low at $38.76. Sideways trading kicks off with the RSI attempting recovery above 30. The resistance at $75 must come down to allow bulls to focus on breaking higher levels at $80, and $100 respectively.


Today last price 0.2837
Today Daily Change -0.0090
Today Daily Change % -3.07
Today daily open 0.2927
Daily SMA20 0.2746
Daily SMA50 0.2397
Daily SMA100 0.2329
Daily SMA200 0.2556
Previous Daily High 0.3187
Previous Daily Low 0.2696
Previous Weekly High 0.3395
Previous Weekly Low 0.2672
Previous Monthly High 0.254
Previous Monthly Low 0.1846
Daily Fibonacci 38.2% 0.2884
Daily Fibonacci 61.8% 0.3
Daily Pivot Point S1 0.2686
Daily Pivot Point S2 0.2445
Daily Pivot Point S3 0.2195
Daily Pivot Point R1 0.3178
Daily Pivot Point R2 0.3428
Daily Pivot Point R3 0.3669




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