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Litecoin technical analysis: LTC/USD bears forcing big rest of breached bull pennant

  • Litecoin price is trading in the red, with losses of 2.75%  the session on Friday.
  • LTC/USD daily price action is retesting a breached bull pennant. 
  • Critical support at the $60 price mark has been breached.
Litecoin technical analysis: LTC/USD bears forcing big rest of breached bull pennant
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Failure of the daily breached pennant structure retest could force large selling pressure to the downside. 

LTC/USD 60-minute chart

The price has cleared near-term critical demand at $60, opening the door to a fresh wave of selling. 

Spot rate:                  59.74

Relative change:      -2.75%

High:                         62.42

Low:                          58.78

LTC/USD

Overview
Today last price59.7198
Today Daily Change-1.7059
Today Daily Change %-2.78
Today daily open61.4257
 
Trends
Daily SMA2057.5089
Daily SMA5058.6772
Daily SMA10067.8189
Daily SMA20085.5842
 
Levels
Previous Daily High64.2865
Previous Daily Low60.225
Previous Weekly High62.9256
Previous Weekly Low56.0159
Previous Monthly High64.1049
Previous Monthly Low47.2078
Daily Fibonacci 38.2%61.7765
Daily Fibonacci 61.8%62.735
Daily Pivot Point S159.6716
Daily Pivot Point S257.9176
Daily Pivot Point S355.6102
Daily Pivot Point R163.7331
Daily Pivot Point R266.0405
Daily Pivot Point R367.7945

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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