Litecoin Price Analysis: LTC/USD gunning for another critical retest of breached flag


  • Litecoin price is trading in positive territory by 3.35 % in the session on Wednesday. 
  • LTC/USD is moving within a narrowing range block structure, explosive breakout eyed. 
  • Following a daily bear flag breakout, vulnerabilities have remained tilted to the downside. 

LTC/USD daily chart

The bulls are pushing for a retest of the breached flag pattern, following a strong break above $40, which was proving to be a stubborn near-term barrier. A closure back above the noted structure will need to be seen, in order to void the potential bear set-up. 

LTC/USD 60-minute chart

Price action has smashed to the upside out from a narrowing range-block formation, inviting a fresh wave of buying pressure. 

 

Spot rate:               40.17

Relative change:  +3.35%

High:                      42.30

Low:                       40.34

LTC/USD

Overview
Today last price 42.0605
Today Daily Change 1.3793
Today Daily Change % 3.39
Today daily open 40.6812
 
Trends
Daily SMA20 42.2807
Daily SMA50 42.742
Daily SMA100 54.6854
Daily SMA200 52.5541
 
Levels
Previous Daily High 41.3634
Previous Daily Low 40.1414
Previous Weekly High 43.767
Previous Weekly Low 37.9812
Previous Monthly High 63.9927
Previous Monthly Low 24.9467
Daily Fibonacci 38.2% 40.8966
Daily Fibonacci 61.8% 40.6082
Daily Pivot Point S1 40.0939
Daily Pivot Point S2 39.5066
Daily Pivot Point S3 38.8719
Daily Pivot Point R1 41.3159
Daily Pivot Point R2 41.9507
Daily Pivot Point R3 42.538

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Forecast: BTC whales plotting a bullish attack

Bitcoin (BTC) is changing hands at $10,750, mostly unchanged since the start of the day. The cryptocurrency attempted a recovery to $11,000 on Monday but was thrown back inside the range by aggressive short-term sellers.

More Bitcoin News

Top 3 Gainers: OMG, SXP, and STORJ explode 70% and are eying up more gains

The entire cryptocurrency market is bouncing back up, strongly gaining more than $28 billion in market capitalization over the past week. Some of the biggest gainers include OMG, SXP, and STORJ. 

More Cryptocurrencies News

LINK goes through consolidation, preps for a breakout

LINK broke above the downward trending line this Thursday and is currently trending horizontally between the $10 support line and the SMA 20 curve.

More ChainLink news

Bitcoin's mass adoption passes the point of no return

Bitcoin was created in response to the Financial crisis of 2008 and developed within a narrow circle of computer geeks, coders, and libertarians fixated on personal freedom, anonymity, and independence from all sorts of authorities. 

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Keep calm and HODL on until the USA elects the president

Bitcoin (BTC) partially regained the losses incurred at the beginning of the week; however, the upside momentum is still too weak to take the price out of the bearish territory and ensure a sustainable recovery. 

Read the weekly forecast

BTC

ETH

XRP