Litecoin Price Prediction: LTC/USD has no significant support levels - Confluence Detector
- LTC/USD went up from $72.90 to $73 this Saturday.
- LTC/USD has no significant support levels.
LTC/USD went up from $72.90 to $73 as the markets opened this Saturday. Any upward movement is limited since there is a critical resistance level at $74.50. On the downside, there are no significant support levels so further downward movement is possible.
LTC/USD Daily Confluence Detector
Resistance levels lie at $74.50, $75, and $77-$77.50. The confluences at those levels are:
- $74.50: Daily previous high, monthly pivot point resistance 2, and weekly 38.2% Fibonacci retracement level.
- $75: Daily pivot point resistance 1.
- $77-$77.50: Daily pivot point resistance 2, SMA 50, SMA 200, SMA 10, and weekly 61.8% Fibonacci retracement level.
Support levels are at $72.50, $69.50, and $67-$67.75. The confluences at those levels are:
- $72.50: Daily 38.2% Fibonacci retracement level and weekly 23.6% Fibonacci retracement level.
- $69.50: Daily Bollinger band lower curve and daily previous low.
- $67-$67.75: Daily pivot point support 2, weekly pivot point support 1, and monthly pivot point resistance 1.
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.
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