- 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%
|Today last price||45.4473|
|Today Daily Change||-1.1306|
|Today Daily Change %||-2.43|
|Today daily open||46.5779|
|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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