Litecoin Price Forecast: LTC/USD loses steam short of $60.00


  • Litecoin price bullish case to $60.00 hits a wall at $56.00.
  • Litecoin enjoys multiple support areas above $50.00 which raise hope for a breakout past the $56.00 hurdle.

Litecoin price is settling above $50.00 after the recent breakout stalled at $56.00. Generally, the market is taking a step back after recording gains for two consecutive days. LTC/USD bounced off ascending trendline support. This gave the bulls the momentum to overcome the resistance at the 50-day SMA as well as the 200-day SMA.

As mentioned, action towards $60.00 lost steam at $56.00. Meanwhile, LTC/USD retreated to $52.82 (prevailing market value). Technically, buyers still have the upper hand as per the trend observed using the RSI and the MACD indicators. However, they lack the energy to push the cryptocurrency farther up.

LTC/USD daily chart

LTC/USD price chart

Litecoin confluence resistance and support areas

Resistance one: $52.90 – A subtle resistance highlighted by the previous low 4-hour.

Resistance two: $54.08 – The strongest resistance zone hosting the pivot point one-month resistance two.

Support one: $52.46 – A subtle buyer congestion zone highlighted by the Bollinger Band 1-hour middle.

Support two: $52.17 – Home to the previous low 15-minutes.

More LTC/USD levels

LTC/USD

Overview
Today last price 52.782
Today Daily Change -0.5708
Today Daily Change % -1.07
Today daily open 53.3528
 
Trends
Daily SMA20 44.6726
Daily SMA50 43.887
Daily SMA100 44.362
Daily SMA200 49.6597
 
Levels
Previous Daily High 56.0346
Previous Daily Low 46.9343
Previous Weekly High 45.7139
Previous Weekly Low 41.442
Previous Monthly High 49.9214
Previous Monthly Low 39.4455
Daily Fibonacci 38.2% 52.5583
Daily Fibonacci 61.8% 50.4106
Daily Pivot Point S1 48.1798
Daily Pivot Point S2 43.0069
Daily Pivot Point S3 39.0795
Daily Pivot Point R1 57.2802
Daily Pivot Point R2 61.2076
Daily Pivot Point R3 66.3805

 

 

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