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.

Ken Chigbo Independent 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 price	40.5982
Today Daily Change	0.3148
Today Daily Change %	0.78
Today daily open	40.2834

Trends
Daily SMA20	42.2136
Daily SMA50	43.1577
Daily SMA100	54.7931
Daily SMA200	52.6296

Levels
Previous Daily High	43.3248
Previous Daily Low	39.5557
Previous Weekly High	43.767
Previous Weekly Low	37.9812
Previous Monthly High	63.9927
Previous Monthly Low	24.9467
Daily Fibonacci 38.2%	40.9955
Daily Fibonacci 61.8%	41.885
Daily Pivot Point S1	38.7845
Daily Pivot Point S2	37.2855
Daily Pivot Point S3	35.0154
Daily Pivot Point R1	42.5536
Daily Pivot Point R2	44.8237
Daily Pivot Point R3	46.3226

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