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.

Ken Chigbo Independent 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 price	41.9162
Today Daily Change	-0.3688
Today Daily Change %	-0.87
Today daily open	42.285

Trends
Daily SMA20	42.1582
Daily SMA50	43.5065
Daily SMA100	54.8837
Daily SMA200	52.7091

Levels
Previous Daily High	44.3546
Previous Daily Low	41.5595
Previous Weekly High	43.767
Previous Weekly Low	37.9812
Previous Monthly High	63.9927
Previous Monthly Low	24.9467
Daily Fibonacci 38.2%	42.6273
Daily Fibonacci 61.8%	43.2869
Daily Pivot Point S1	41.1115
Daily Pivot Point S2	39.938
Daily Pivot Point S3	38.3165
Daily Pivot Point R1	43.9066
Daily Pivot Point R2	45.5281
Daily Pivot Point R3	46.7016

Author

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Stellar Price Forecast: XLM slips below $0.22 as bearish momentum builds

Stellar (XLM) price is trading below $0.22 at the time of writing on Wednesday after failing to close above the key resistance earlier this week. Bearish momentum continues to strengthen, with open interest falling and short bets rising.

Pi Network Price Forecast: PI struggles to rebound amid muted demand

Pi Network (PI) edges higher by almost 1% at press time on Wednesday, bouncing off the $0.2000 level after a four-day decline. The recovery lacks momentum as the social interest surrounding Pi Network declines. Technically, PI is at a crossroads, struggling for a rebound as momentum is lacking.

Top 3 Price Prediction: Bitcoin, Ethereum, and Ripple face downside risks as breakout attempts falter

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