Litecoin Price Prediction: Bulls and bears fighting around $75 level - Confluence Detector

LTC/USD is trading for $76.
The price doesn’t face any healthy resistance levels.

Rajarshi Mitra Independent Analyst

LTC/USD is currently trading for $76 following three consecutive bearish days which saw the bulls fail at the $80-level. The daily confluence detector shows a lack of strong resistance levels.

LTC/USD Daily Confluence Detector

As per the daily confluence detector, the resistance levels are at $78, $78.50, and $81.50. The confluences at those levels are:

$78: Previous day high and weekly 23.6% Fibonacci retracement level.
$78.50: Daily pivot point resistance 1.
$81.50: Previous week high.

The support levels are at $75.50-$76, $73.75, and $72. The confluences at those levels are:

$75.50-$76: Daily 61.8% Fibonacci retracement level, Daily Bollinger band middle curve, weekly 38.2% Fibonacci retracement level, 15-min Bollinger band lower curve, SMA 200, 4-hour previous low, and monthly 61.8% Fibonacci retracement level.
$73.75: Daily 23.6% Fibonacci retracement level and SMA 50.
$72: Weekly 61.8% Fibonacci retracement level.

Author

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.