Litecoin Price Analysis: LTC/USD short term bearish bias risks the support at $65 and $60


  • Litecoin price retests the $70 resistance zone in a bid to open the door for gains towards the coveted $100.
  • Short-term analysis of Litecoin price maintains a bearish bias as bears fight to force the price under $65 and $60 zones.

LTC/USD daily chart

Litecoin price is trading above a long term descending trendline resistance.

The narrowing gap between the 50-day SMA and the 200-day SMA hints that bullish pressure is not only present but also gaining traction.

LTC/USD 2-hour chart

The Bollinger Band 2-hour upper curve resistance proves impenetrable as LTC/USD slides to seek balance towards $65 short term support.

Litecoin bulls refuse to be discouraged, the RSI maintains the position within the overbought despite the correction.

LTC/USD 1-hour

In the short term, Litecoin has a bearish bias as observed using the Elliot Wave Oscillator. The indicator is on its fifth consecutive bearish session. A short term trendline could offer support and stop the decline to $65 and $60 respectively.

LTC/USD

Overview
Today last price 67.6095
Today Daily Change -0.2470
Today Daily Change % -0.36
Today daily open 67.8565
 
Trends
Daily SMA20 56.9919
Daily SMA50 48.1256
Daily SMA100 50.7596
Daily SMA200 62.5454
 
Levels
Previous Daily High 70.0854
Previous Daily Low 58.1514
Previous Weekly High 62.4609
Previous Weekly Low 50.6584
Previous Monthly High 48.5063
Previous Monthly Low 35.9836
Daily Fibonacci 38.2% 65.5266
Daily Fibonacci 61.8% 62.7102
Daily Pivot Point S1 60.6435
Daily Pivot Point S2 53.4304
Daily Pivot Point S3 48.7094
Daily Pivot Point R1 72.5775
Daily Pivot Point R2 77.2985
Daily Pivot Point R3 84.5116

 

 

 

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