- LTC/USD registers heavy declines after failing to cross the key resistances.
- 21-day EMA, short-term rising trend line limit further downside.
- 50% Fibonacci retracement, 200-day EMA on the buyers’ radars beyond 50-day EMA.
Having failed to take out 50-day EMA, LTC/USD slumps 6.0% to currently around 43.66 amid the early Good Friday.
The pair currently drops towards a 21-day EMA level of 42.58 whereas an ascending trend line from March 16, near 41.50, could restrict the pair’s further declines.
Should there be a clear break below 41.50, 40.00 and 23.6% Fibonacci retracement of the pair’s February-March downside, at 39.00, will be luring the sellers.
On the flip side, a 38.2% Fibonacci retracement level of 47.67 will act as an extra filter to the pair’s upside attempts beyond a 50-day EMA level of 46.85.
In a case where the bulls manage to remain strong beyond 47.67, 50% Fibonacci retracement near 54.70 and 56.45, comprising 200-day EMA, will be important to watch.
LTC/USD daily chart
Trend: Pullback expected
Additional important levels
|Today last price||43.6639|
|Today Daily Change||-2.6366|
|Today Daily Change %||-5.69%|
|Today daily open||46.3005|
|Previous Daily High||46.8982|
|Previous Daily Low||44.7019|
|Previous Weekly High||43.0368|
|Previous Weekly Low||37.0298|
|Previous Monthly High||63.9927|
|Previous Monthly Low||24.9467|
|Daily Fibonacci 38.2%||45.5409|
|Daily Fibonacci 61.8%||46.0592|
|Daily Pivot Point S1||45.0355|
|Daily Pivot Point S2||43.7705|
|Daily Pivot Point S3||42.8391|
|Daily Pivot Point R1||47.2318|
|Daily Pivot Point R2||48.1632|
|Daily Pivot Point R3||49.4282|
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.