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Litecoin Price Analysis: LTC/USD will only progress to a greater recovery if $40 is broken

  • Litecoin price is trading in negative territory by 4.15% in the session on Monday. 
  • LTC/USD has offered little in terms of price action since 13 March.
  • Given the narrow conditions, it suggests a big breakout is in the works for Litecoin.
Litecoin Price Analysis: LTC/USD will only progress to a greater recovery if $40 is broken
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Despite narrowing price movements, the price has closed in the green marginally for two consecutive weeks. 

LTC/USD daily chart

Price action remains narrow via the daily chart view, at risk of breakout south, moving within the bearish flag. 

Spot rate:               38.66

Relative change:  +4.15%

High:                      39.55

Low:                       37.11
 

LTC/USD

Overview
Today last price38.6934
Today Daily Change1.5670
Today Daily Change %4.22
Today daily open37.1264
 
Trends
Daily SMA2038.246
Daily SMA5056.4712
Daily SMA10054.9983
Daily SMA20055.3597
 
Levels
Previous Daily High39.1718
Previous Daily Low37.0298
Previous Weekly High41.3987
Previous Weekly Low34.5587
Previous Monthly High84.4232
Previous Monthly Low56.6073
Daily Fibonacci 38.2%37.848
Daily Fibonacci 61.8%38.3535
Daily Pivot Point S136.3802
Daily Pivot Point S235.6339
Daily Pivot Point S334.2381
Daily Pivot Point R138.5222
Daily Pivot Point R239.9181
Daily Pivot Point R340.6643

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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