Litecoin Price Analysis: LTC/USD trends in a downward channel formation, within the green Ichimoku cloud

LTC/USD bears have stayed in control of the market for the second straight day.
The MACD shows sustained bearish market momentum.

Rajarshi Mitra Independent Analyst

LTC/USD daily chart

LTC/USD fell from $43.426 to $43.07 in the early hours of Friday as it continues to trend inside the green Ichimoku cloud. William’s%R is trending at -70, right next to the oversold zone following recent price action. The MACD indicates sustained bearish momentum.

Support and Resistance

LTC/USD has strong resistance at $43.80, $44.55, SMA 50 and SMA 20. On the downside, healthy support lies at $42.35 and $41.15.

Key levels

BTC/USD

Overview
Today last price	9314.59
Today Daily Change	-62.27
Today Daily Change %	-0.66
Today daily open	9376.86

Trends
Daily SMA20	9607.74
Daily SMA50	9372.66
Daily SMA100	8038.38
Daily SMA200	8229.58

Levels
Previous Daily High	9480.16
Previous Daily Low	9270.95
Previous Weekly High	10007.88
Previous Weekly Low	9072.17
Previous Monthly High	10074.48
Previous Monthly Low	8105.58
Daily Fibonacci 38.2%	9350.86
Daily Fibonacci 61.8%	9400.24
Daily Pivot Point S1	9271.82
Daily Pivot Point S2	9166.78
Daily Pivot Point S3	9062.61
Daily Pivot Point R1	9481.03
Daily Pivot Point R2	9585.2
Daily Pivot Point R3	9690.24

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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Litecoin Price Analysis: LTC/USD trends in a downward channel formation, within the green Ichimoku cloud