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Litecoin Price Analysis: LTC/USD vulnerabilities tilted to the downside as price trades under bear flag

  • Litecoin price is trading in negative territory by 0.95% in the session on Monday. 
  • LTC/USD pressure is back on to the downside, after the exponential gains on Thursday. 
  • The next major area of support will be eyed back down at the $40 mark.
Litecoin Price Analysis: LTC/USD vulnerabilities tilted to the downside as price trades under bear flag
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

The bulls have been pushing the price to the upside for five consecutive weeks now. The next major weekly resistance should be noted at $50.

LTC/USD daily chart

Price action is moving within consolidation mode, following a bearish flag breakout and retest, so far continuing to reject. 

Spot rate:               41.95

Relative change:  -0.95%

High:                      43.32

Low:                       40.88

LTC/USD

Overview
Today last price41.9162
Today Daily Change-0.3688
Today Daily Change %-0.87
Today daily open42.285
 
Trends
Daily SMA2042.1582
Daily SMA5043.5065
Daily SMA10054.8837
Daily SMA20052.7091
 
Levels
Previous Daily High44.3546
Previous Daily Low41.5595
Previous Weekly High43.767
Previous Weekly Low37.9812
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%42.6273
Daily Fibonacci 61.8%43.2869
Daily Pivot Point S141.1115
Daily Pivot Point S239.938
Daily Pivot Point S338.3165
Daily Pivot Point R143.9066
Daily Pivot Point R245.5281
Daily Pivot Point R346.7016

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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