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Litecoin Price Analysis: Where are the support levels? Maybe 46.00 will work

Litecoin is down another 5% on Wednesday as crypto sentiment struggles again.
There are some support levels close by but they are from some time ago.

Rajan Dhall, MSTA FX Daily

LTC/USD 4-hour chart

Litecoin is looking bearish again and the price is trading another 5% lower on Wednesday. This comes after a heavy fall over the weekend. Looking at the prices now it's hard to see any support levels close by. This led me to look further back to see if there was any meaningful support zones in the past that could be used in the nearer term.

The chart has been another but lower high and lower low waves as the pair remains in a technical downtrend. The levels in the chart below have been picked out from the time between December 2019 and January 2020.

The first major support level is in blue and its at 46.00. This level was used in early December at the consolidation high. It was used on multiple occasions to good effect and might act as a decent support this time around. The black line was a

Additional levels

LTC/USD

Overview
Today last price	47.7922
Today Daily Change	-2.3661
Today Daily Change %	-4.72
Today daily open	50.1583

Trends
Daily SMA20	63.1461
Daily SMA50	66.6423
Daily SMA100	56.0696
Daily SMA200	58.3479

Levels
Previous Daily High	51.4533
Previous Daily Low	48.8833
Previous Weekly High	63.8958
Previous Weekly Low	56.1364
Previous Monthly High	84.4232
Previous Monthly Low	56.6073
Daily Fibonacci 38.2%	49.8651
Daily Fibonacci 61.8%	50.4716
Daily Pivot Point S1	48.8766
Daily Pivot Point S2	47.595
Daily Pivot Point S3	46.3067
Daily Pivot Point R1	51.4466
Daily Pivot Point R2	52.7349
Daily Pivot Point R3	54.0166

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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LTC/USD 4-hour chart

Additional levels

LTC/USD

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