Litecoin Price Analysis: LTC/USD near-term vulnerabilities point to the downside

Litecoin price is trading in positive territory by some 0.15% in the session on Tuesday.
LTC/USD like many of its peers is moving within consolidation mode, ahead of next committed moves.
Near-term price action demonstrates some vulnerabilities to the downside for Litecoin.

Ken Chigbo Independent Analyst

LTC/USD daily chart

The daily candlesticks continue to wick and catch support in the $55 zone. Failure to hold could see the price slammed back down to $50.

LTC/USD 60-minute chart

Price action is moving within a near-term bearish flag structure, subject to a breakout south.

Spot rate: 57.28

Relative change: +0.30%

High: 57.98

Low: 56.82

LTC/USD

Overview
Today last price	57.1946
Today Daily Change	0.0770
Today Daily Change %	0.13
Today daily open	57.1176

Trends
Daily SMA20	49.9895
Daily SMA50	45.497
Daily SMA100	50.4592
Daily SMA200	65.5013

Levels
Previous Daily High	58.186
Previous Daily Low	55.7524
Previous Weekly High	63.1744
Previous Weekly Low	48.8443
Previous Monthly High	48.5063
Previous Monthly Low	35.9836
Daily Fibonacci 38.2%	56.6821
Daily Fibonacci 61.8%	57.2564
Daily Pivot Point S1	55.8513
Daily Pivot Point S2	54.5851
Daily Pivot Point S3	53.4177
Daily Pivot Point R1	58.285
Daily Pivot Point R2	59.4523
Daily Pivot Point R3	60.7186

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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