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Litecoin Price Forecast: LTC/USD largely at risk trading underneath bearish flag

  • Litecoin price is trading in negative territory by 2.30 % in the session on Wednesday. 
  • LTC/USD is moving within a narrowing nature, sitting just above critical support at $40. 
  • The coming range breakout will likely be trend defining, with risks tilting to the downside. 
Litecoin Price Forecast: LTC/USD largely at risk trading underneath bearish flag
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

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

LTC/USD 60-minute chart

Price action formed a head and shoulder structure and has breached the neckline, inviting further downside pressure. 

Spot rate:               40.38

Relative change:  -2.30%

High:                      41.77

Low:                       40.22

LTC/USD

Overview
Today last price40.4198
Today Daily Change-0.8048
Today Daily Change %-1.95
Today daily open41.2246
 
Trends
Daily SMA2041.3175
Daily SMA5045.5205
Daily SMA10055.0908
Daily SMA20053.0477
 
Levels
Previous Daily High41.9286
Previous Daily Low40.5748
Previous Weekly High47.6578
Previous Weekly Low39.9638
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%41.092
Daily Fibonacci 61.8%41.4115
Daily Pivot Point S140.5567
Daily Pivot Point S239.8889
Daily Pivot Point S339.2029
Daily Pivot Point R141.9105
Daily Pivot Point R242.5965
Daily Pivot Point R343.2643

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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