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Litecoin Price Analysis: LTC/USD now has to break down a huge barrier at $65

  • Litecoin price is trading in positive territory by 5.50% in the session on Thursday. 
  • LTC/USD is now running towards its fourth potential consecutive session firmly in the red. 
  • A critical trend line of support was breached at around $72, inviting fresh selling. 
Litecoin Price Analysis: LTC/USD now has to break down a huge barrier at $65
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

The price in the last four sessions has dropped a chunky $20 from $80 down to $60. 

LTC/USD 60-minute chart

Bulls managed to break out of a bearish pennant structure, after being set up for a fresh bout of downside pressure. A near-term supply area should be noted at $65.

Spot rate:                64.20

Relative change:    +5.50%

Hgh:                         65.52

Low:                         57.33

LTC/USD

Overview
Today last price64.3802
Today Daily Change3.8913
Today Daily Change %6.43
Today daily open60.4889
 
Trends
Daily SMA2075.0732
Daily SMA5065.4467
Daily SMA10054.8128
Daily SMA20059.7995
 
Levels
Previous Daily High72.1204
Previous Daily Low57.5184
Previous Weekly High80.6896
Previous Weekly Low66.0609
Previous Monthly High70.0854
Previous Monthly Low38.7677
Daily Fibonacci 38.2%63.0963
Daily Fibonacci 61.8%66.5424
Daily Pivot Point S154.6314
Daily Pivot Point S248.7738
Daily Pivot Point S340.0293
Daily Pivot Point R169.2334
Daily Pivot Point R277.9779
Daily Pivot Point R383.8355

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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