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Litecoin Price Forecast: LTC/USD $40 is a problem which the bulls will need to overcome

  • Litecoin price is trading in negative territory by 2.90% in the session on Friday. 
  • 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 Forecast: LTC/USD $40 is a problem which the bulls will need to overcome
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Risks are still tilted to the downside, as the price moves within a bearish flag structure. Conditions are extremely tight and have been for the last four sessions. 

LTC/USD 60-minute chart

  • The price formed a bullish flag structure via the 60-minute chart view, presenting an opportunity for some near-term buying pressure. 

Spot rate:               38.40

Relative change:  -2.90%

High:                     40.03   

Low:                      39.19

LTC/USD

Overview
Today last price39.4842
Today Daily Change-1.0934
Today Daily Change %-2.69
Today daily open40.5776
 
Trends
Daily SMA2040.648
Daily SMA5058.6742
Daily SMA10055.0644
Daily SMA20055.8112
 
Levels
Previous Daily High40.6144
Previous Daily Low38.5383
Previous Weekly High43.9228
Previous Weekly Low29.277
Previous Monthly High84.4232
Previous Monthly Low56.6073
Daily Fibonacci 38.2%39.8213
Daily Fibonacci 61.8%39.3314
Daily Pivot Point S139.2058
Daily Pivot Point S237.834
Daily Pivot Point S337.1297
Daily Pivot Point R141.2819
Daily Pivot Point R241.9862
Daily Pivot Point R343.358

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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