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Litecoin Price Analysis: LTC/USD giving up $40 again could be very punishing

  • Litecoin price is trading in positive territory by 0.50 % in the session on Tuesday. 
  • LTC/USD at risk of another fall, following critical flag breach. 
  • The price breached the noted daily flag and has retested, leaving the door open to the bears. 
Litecoin Price Analysis: LTC/USD giving up $40 again could be very punishing
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

A daily breakout and retest of a flag pattern, which leaves the door open to greater downside pressure. 

LTC/USD 60-minute chart

A near-term flag structure is observed via the 60-minute, at risk of a breakout to the downside. 

Spot rate:               40.61

Relative change:  +0.50%

High:                      41.08

Low:                       40.14

LTC/USD

Overview
Today last price40.5982
Today Daily Change0.3148
Today Daily Change %0.78
Today daily open40.2834
 
Trends
Daily SMA2042.2136
Daily SMA5043.1577
Daily SMA10054.7931
Daily SMA20052.6296
 
Levels
Previous Daily High43.3248
Previous Daily Low39.5557
Previous Weekly High43.767
Previous Weekly Low37.9812
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%40.9955
Daily Fibonacci 61.8%41.885
Daily Pivot Point S138.7845
Daily Pivot Point S237.2855
Daily Pivot Point S335.0154
Daily Pivot Point R142.5536
Daily Pivot Point R244.8237
Daily Pivot Point R346.3226

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.

More from Ken Chigbo
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