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Litecoin Price Analysis: LTC/USD huge bear flag retest

Litecoin price is trading in positive territory by+7.80 % in the session on Wednesday.
LTC/USD encountered explosive buying down at $38.50, an unexpected surge.
The price managed to print fresh highs for the week, following the jump north.

Ken Chigbo Independent Analyst

LTC/USD daily chart

The bulls will need to break back above the breached bear flag to void the downside bias.

LTC/USD 60-minute chart

The buying came into play down at the lowest levels that were seen since 1 April, it very much came as a surprise and not even so much bouncing off any key support.

Spot rate: 42.36

Relative change: +7.80%

High: 43.76

Low: 37.98

LTC/USD

Overview
Today last price	42.4853
Today Daily Change	3.1867
Today Daily Change %	8.11
Today daily open	39.2986

Trends
Daily SMA20	41.2535
Daily SMA50	44.8875
Daily SMA100	55.0258
Daily SMA200	52.9565

Levels
Previous Daily High	41.7775
Previous Daily Low	39.1393
Previous Weekly High	47.6578
Previous Weekly Low	39.9638
Previous Monthly High	63.9927
Previous Monthly Low	24.9467
Daily Fibonacci 38.2%	40.1471
Daily Fibonacci 61.8%	40.7697
Daily Pivot Point S1	38.3661
Daily Pivot Point S2	37.4335
Daily Pivot Point S3	35.7278
Daily Pivot Point R1	41.0043
Daily Pivot Point R2	42.7101
Daily Pivot Point R3	43.6426

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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