Litecoin technical analysis: Bulls start the day strong following two straight bearish days


  • LTC/USD went up from $69.25 to $69.40 in the early hours of Friday.
  • The daily price is trending horizontally in a flag formation.

LTC/USD daily chart

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Litecoin’s daily chart has had a bullish start to the day following two straight bearish days. The price of LTC/USD has gone up from $69.25 to $69.40 and found resistance on the downward trending line. While the price is trending below the 200-day simple moving average (SMA 200) and SMA 50 curves, it has found support on the SMA 20 curve. The moving average convergence/divergence (MACD) indicator shows increasing bullish momentum.

LTC/USD 4-hour chart

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The 4-hour LTC/USD chart is consolidating in a flag formation and trending below the SMA 200 and SMA 20 curves. The price has found support on the SMA 50 curve. The Elliott oscillator has had a bullish session following 13 straight bearish sessions.

LTC/USD hourly chart

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The hourly breakdown of Thursday shows that the price fell to $68.60 before the bulls stepped back in and took it up to $69.95. The bears then checked the price and took LTC/USD down to $69.10. Since then, the bulls have taken the price up to $69.40. The relative strength index (RSI) indicator is trending around the neutral zone.

Key Levels

LTC/USD

Overview
Today last price 69.4093
Today Daily Change 0.0995
Today Daily Change % 0.14
Today daily open 69.3098
 
Trends
Daily SMA20 68.5123
Daily SMA50 78.9542
Daily SMA100 98.3586
Daily SMA200 87.1984
Levels
Previous Daily High 70.0809
Previous Daily Low 68.4131
Previous Weekly High 71.0482
Previous Weekly Low 63.9512
Previous Monthly High 106.8665
Previous Monthly Low 62.166
Daily Fibonacci 38.2% 69.0502
Daily Fibonacci 61.8% 69.4438
Daily Pivot Point S1 68.455
Daily Pivot Point S2 67.6002
Daily Pivot Point S3 66.7873
Daily Pivot Point R1 70.1228
Daily Pivot Point R2 70.9357
Daily Pivot Point R3 71.7905

 


 

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