Litecoin Price Prediction: LTC trims early gains to retest 138.00, key support lines in focus


  • LTC/USD fails to keep the corrective recovery, attacks intraday low.
  • U-turn from 100-bar SMA, downbeat MACD favor sellers.
  • Short-term falling trend line adds to the upside filters.

LTC/USD fades the day-start bounce off 136.15 while stepping back from 139.75, currently around 137.53, during early Tuesday. The altcoin took a U-turn from 100-bar SMA while portraying its weakness the previous day. Also on the negative side could be the MACD histogram that flirts with the LTC/USD bears.

As a result, the LTC/USD is expected to probe Sunday’s low near 134.00 while eyeing an upward sloping trend line from December 11, at 131.80 now.

Though, any further downside past-131.80 will be challenged by a five-week-old support line near 126.20.

Meanwhile, LTC/USD buyers are likely to return on the upside break of 100-bar SMA, currently around 145.80. However, a descending resistance line from January 10, close to 152.00, becomes a tough nut to crack for the bulls afterward.

It should, however, be noted that the quote’s sustained rise beyond 152.00 will have the previous week’s top near 166.00 as an intermediate halt during the rise to the monthly peak surrounding 186.00.

LTC/USD four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price 137.5972
Today Daily Change 0.5019
Today Daily Change % 0.37%
Today daily open 137.0953
 
Trends
Daily SMA20 149.9756
Daily SMA50 126.284
Daily SMA100 96.7168
Daily SMA200 74.0037
 
Levels
Previous Daily High 147.6597
Previous Daily Low 136.6597
Previous Weekly High 166.1888
Previous Weekly Low 122.8396
Previous Monthly High 139.2186
Previous Monthly Low 70.0602
Daily Fibonacci 38.2% 140.8617
Daily Fibonacci 61.8% 143.4577
Daily Pivot Point S1 133.2834
Daily Pivot Point S2 129.4716
Daily Pivot Point S3 122.2834
Daily Pivot Point R1 144.2835
Daily Pivot Point R2 151.4716
Daily Pivot Point R3 155.2835

 

 

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