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Litecoin Price Analysis: LTC/USD heading for a critical supporting trend line test

  • Litecoin price is trading in negative territory by 7.30% in the session on Monday. 
  • LTC/USD is consolidating, which is making the price increasingly likely of a breakout. 
  • Critical support should be noted at $70, with upside capped at $84. 
Litecoin Price Analysis: LTC/USD heading for a critical supporting trend line test
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Price action has done nothing over the last three weeks, very much narrowing, subject to a decent breakout. 

LTC/USD daily chart

The bulls are set to give up a three-session consecutive run higher, as the bears take control.

Spot rate:                9632.77

Relative change:    -7.30%

High:                        79.99

Low:                         73.11

LTC/USD

Overview
Today last price73.7569
Today Daily Change-6.0422
Today Daily Change %-7.57
Today daily open79.7991
 
Trends
Daily SMA2075.4156
Daily SMA5064.0148
Daily SMA10054.5074
Daily SMA20060.1642
 
Levels
Previous Daily High80.5108
Previous Daily Low74.7711
Previous Weekly High80.6896
Previous Weekly Low66.0609
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%78.3182
Daily Fibonacci 61.8%76.9636
Daily Pivot Point S176.2098
Daily Pivot Point S272.6206
Daily Pivot Point S370.4701
Daily Pivot Point R181.9496
Daily Pivot Point R284.1001
Daily Pivot Point R387.6893

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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