Litecoin Price Prediction: Upside potential capped by stack of resistance levels - Confluence Detector

LTC/USD is currently trading for $82.80 as markets opened this Saturday. The confluence detector shows that a stack of resistances caps the price up front. LTC/USD has enjoyed two bullish days in a row, and if they want to continue the trend, they will need to gather enough momentum to break past the stacks.

LTC/USD Daily Confluence Detector

The resistance levels are at $83.50-$84, $85.50, and $88. The confluences at those levels are:

• $83.50-$84: 4-hour previous high, daily previous high, weekly 38.2% Fibonacci retracement level, and 4-hour Bollinger band upper curve.
• $85.50: Monthly pivot point resistance 3.
• $88: Weekly 61.8% Fibonacci retracement level.

The support levels are at $81.50-$82, $81.25. The confluences at those levels are:

• $81.50-$82: SMA 50, SMA 200, hourly previous low, SMA 10, SMA 10, 15-min Bollinger band lower curve, SMA 100, 4-hour previous low, hourly Bollinger band middle curve, and daily 38.2% Fibonacci retracement level.
• $81.25: 5-day simple moving average (SMA 5), daily 61.8% Fibonacci retracement level, hourly Bollinger band lower curve, and 4-hour Bollinger band middle curve.