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

fxsoriginal

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

fxsoriginal

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

fxsoriginal

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

 


 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Weekly Forecast: BTC crystal ball gives bulls a faint flicker of hope

Bitcoin staged a healthy recovery this week. The pioneer digital currency price took off from the support area of $10,000 and touched the next psychological line of $11,000.

More Bitcoin News

Maker Price Analysis: MKR whales could be getting ready to dump again at $470

Maker has been one of the most affected coins after the last crypto crash, losing around 50% of its value in practically one month. MKR is currently ranked 37th with a market capitalization of $500 million.

More Cryptocurrencies News

Kyber Network Price Prediction: KNC could be on the verge of a 50% correction

Kyber Network was trading as high as $2.04 on August 14 but plummeted to $1.04 just 22 days later, a 48% loss that clearly shows bears are in full control in the short and mid-terms.

More Cryptocurrencies News

Aave Price Analysis: LEND bulls will have to fight for $0.65 to regain control

Aave's LEND is the 29th-largest digital asset with the current market capitalization of $751 million and an average daily trading volume of $167 million. The token is most actively traded on Binance. 

More Crypto News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC crystal ball gives bulls a faint flicker of hope

Bitcoin staged a healthy recovery this week. The pioneer digital currency price took off from the support area of $10,000 and touched the next psychological line of $11,000.

Read the weekly forecast

BTC

ETH

XRP