Litecoin Price Analysis: LTC/USD recovery hits wall at $48, can buyers hold above $45?


  • Litecoin price is entering a consolidation phase after recovery was rejected at $48.
  • LTC/USD sellers’ influence is still present especially with the 50-day SMA increasing the gap under the 100-day SMA.

Litecoin price has sustained gains above a key ascending trendline since the dip to $25 support in March. Recovery has been gradual but steady. The tug of war between the bears and the bulls made the $40 level impenetrable until the surge early this week when LTC/USD soared towards $50.

However, Litecoin hit a snag at $48 and the trend settled in a sideways action above the immediate support at $45. This consolidation is supported by the horizontally moving RSI (above the average). As long as the price can hold above $45, buyers will have the time to gather the strength to attack the congestion of sellers at $48 and $50 respectively.

On the upside, besides the resistance at $48, the 50-day SMA is in line to hinder movement targeting the critical $50. The 200-day SMA at $53.50 will also give the bulls a difficult time in the journey heading to $60.

Litecoin intraday levels

Spot rate: $45.78

Relative change: -0.8635

Percentage change: -1.85%

Trend: Bullish

Volatility: Shrinking

LTC/USD daily chart
LTC/USD price chart

LTC/USD

Overview
Today last price 45.4473
Today Daily Change -1.1306
Today Daily Change % -2.43
Today daily open 46.5779
 
Trends
Daily SMA20 40.0761
Daily SMA50 49.2827
Daily SMA100 55.0356
Daily SMA200 53.8643
 
Levels
Previous Daily High 47.2426
Previous Daily Low 44.2987
Previous Weekly High 43.0368
Previous Weekly Low 37.0298
Previous Monthly High 63.9927
Previous Monthly Low 24.9467
Daily Fibonacci 38.2% 46.1181
Daily Fibonacci 61.8% 45.4233
Daily Pivot Point S1 44.8369
Daily Pivot Point S2 43.0959
Daily Pivot Point S3 41.893
Daily Pivot Point R1 47.7808
Daily Pivot Point R2 48.9836
Daily Pivot Point R3 50.7246

 

 

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