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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 price prediction Bitcoin, Ethereum, Ripple: Market ready to launch, not knowing who will lead it

One of these stories is the intense and profound relationship between Ethereum and Bitcoin. The story approaches a moment of decision, where what happens can mark the future.

More Bitcoin News

Ethereum Price Analysis: ETH/USD reverses Sunday gains as Istanbul-inspired enthusiasm is over

ETH/USD has retreated from the recent high of $152.14 reached on Sunday, following the successful Istanbul upgrade.

More Ethereum News

IOTA price analysis: IOT/USD loses ground, ignores positive fundamentals

IOTA is flashing with red colors. The coin retreated from the 18th position a month ago to 20th place in the global cryptocurrency rating amid strong bearish sentiments.

More IOTA News

Tezos Price Analysis: Whales send XTZ/USD to multi-month high

Tezos  (XTZ) is the best-performing digital asset today. The coin has gained over 6% of its value in recent 24 hours while all Bitcoin and all major altcoins have stayed in tight ranges amid low trading activity. 

More Tezos News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast

BTC

ETH

XRP