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Litecoin Price Analysis: LTC/USD proves its harmonic prowess

  • Litecoin trades 4.3% higher on Thursday as the crypto sector rebounds.
  • The pair bounced on an Elliott Wave level and pushed higher.
Litecoin Price Analysis: LTC/USD proves its harmonic prowess
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

LTC/USD Daily Chart

The crypto market is pulling back on Thursday as most of the crypto majors move higher.

Looking at the chart its still a bearish one as there is a lower high and lower low wave.

The price bounced off the 1.618% Fibonacci Extension level which confluenced with the 50% Fibonacci extension levels.

Now the market has bounced it could find some resistance at around the 66.00 level.

This was the previous wave low that changed the technical trend.

If the resistance breaks it could prove that the market is still in an uptrend.

Litecoin

Additional Levels

LTC/USD

Overview
Today last price62.5916
Today Daily Change2.1027
Today Daily Change %3.48
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

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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