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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. 
Litecoin Price Analysis: LTC/USD huge bear flag retest
Ken ChigboKen ChigboIndependent 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 price42.4853
Today Daily Change3.1867
Today Daily Change %8.11
Today daily open39.2986
 
Trends
Daily SMA2041.2535
Daily SMA5044.8875
Daily SMA10055.0258
Daily SMA20052.9565
 
Levels
Previous Daily High41.7775
Previous Daily Low39.1393
Previous Weekly High47.6578
Previous Weekly Low39.9638
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%40.1471
Daily Fibonacci 61.8%40.7697
Daily Pivot Point S138.3661
Daily Pivot Point S237.4335
Daily Pivot Point S335.7278
Daily Pivot Point R141.0043
Daily Pivot Point R242.7101
Daily Pivot Point R343.6426

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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