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Litecoin Technical Analysis: LTC/USD at risk to downside shocks

  • Litecoin into the second half of Thursday's session is trading in the red by some 1%.
  • LTC/USD price action via the 4-hour chart view is moving within a bearish pennant pattern. 
  • The psychological $100 mark remains at risk to attack by bears, should the noted technical structure play out. 

Spot rate:                 103.10

Relative change:      -1.20%

High:                        105.57

Low:                         101.35

LTC/USD

Overview
Today last price103.1508
Today Daily Change-0.7323
Today Daily Change %-0.70
Today daily open103.8831
 
Trends
Daily SMA20102.7707
Daily SMA5088.3988
Daily SMA10076.6195
Daily SMA20055.318
Levels
Previous Daily High105.6138
Previous Daily Low100.1447
Previous Weekly High122.0347
Previous Weekly Low99.2339
Previous Monthly High122.0347
Previous Monthly Low72.2954
Daily Fibonacci 38.2%103.5246
Daily Fibonacci 61.8%102.2339
Daily Pivot Point S1100.8139
Daily Pivot Point S297.7448
Daily Pivot Point S395.3448
Daily Pivot Point R1106.283
Daily Pivot Point R2108.683
Daily Pivot Point R3111.7522

LTC/USD 4-hour chart

  • Litecoin has formed a bearish pennant pattern via the 4-hour chart, subject to a potential breakout. 

LTC/USD daily chart

  • Price action via the daily chart view is still very much supported by an ascending trend line of support. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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