Litecoin Price Forecast: LTC/USD failure to regain $50 has proven to be punishing

Litecoin price is trading in negative territory by 0.30 % in the session on Monday.
LTC/USD has lost upside momentum over the last five sessions.
The bulls failed to break down the supply in a run into the $50 mark, inviting more downside pressure.

Ken Chigbo Independent Analyst

LTC/USD weekly chart

Last week’s candlestick closure produced an evening star, which could be followed up by a week of selling.

LTC/USD daily chart

The price has broken out to the downside from a bearish flag structure, leaving the door open to greater moves south.

Spot rate: 40.33

Relative change: -4.35%

High: 42.03

Low: 39.56

LTC/USD

Overview
Today last price	40.3876
Today Daily Change	-1.6536
Today Daily Change %	-3.93
Today daily open	42.0412

Trends
Daily SMA20	41.1878
Daily SMA50	46.9772
Daily SMA100	55.1259
Daily SMA200	53.2426

Levels
Previous Daily High	43.7271
Previous Daily Low	41.9109
Previous Weekly High	47.6578
Previous Weekly Low	39.9638
Previous Monthly High	63.9927
Previous Monthly Low	24.9467
Daily Fibonacci 38.2%	42.6047
Daily Fibonacci 61.8%	43.0333
Daily Pivot Point S1	41.3924
Daily Pivot Point S2	40.7435
Daily Pivot Point S3	39.5762
Daily Pivot Point R1	43.2086
Daily Pivot Point R2	44.376
Daily Pivot Point R3	45.0248

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.

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Litecoin Price Forecast: LTC/USD failure to regain $50 has proven to be punishing