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.
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.
More from Rajarshi Mitra
