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

  • Litecoin price is trading in positive territory by 0.40 % in the session on Tuesday. 
  • LTC/USD subject to deeper falling following a rejection at $50, next major support eyed at $40. 
  • Price action has been narrowing within recent trading, ahead of a possible incoming breakout. 
Litecoin Price Forecast: LTC/USD failure to regain $50 has proven to be punishing
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Vulnerabilities remain tilted to the downside, given the bearish flag breach. 

LTC/USD 60-minute chart

Near-term price action is moving within a bearish flag structure via the 60-minute chart view. 

Spot rate:               41.51

Relative change:   +.0.40%

High:                      41.91

Low:                       40.57

LTC/USD

Overview
Today last price41.51
Today Daily Change0.1739
Today Daily Change %0.42
Today daily open41.3361
 
Trends
Daily SMA2041.2194
Daily SMA5046.208
Daily SMA10055.1114
Daily SMA20053.1171
 
Levels
Previous Daily High42.0341
Previous Daily Low39.565
Previous Weekly High47.6578
Previous Weekly Low39.9638
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%40.5082
Daily Fibonacci 61.8%41.0909
Daily Pivot Point S139.9227
Daily Pivot Point S238.5094
Daily Pivot Point S337.4537
Daily Pivot Point R142.3918
Daily Pivot Point R243.4474
Daily Pivot Point R344.8608

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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