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Litecoin technical analysis: LTC/USD big $70 support barrier breached

Litecoin price on Thursday is trading in negative territory by 4.25%. It is one of the under-performers across the larger altcoins.
LTC/USD smashed out from a bearish flag formation, opening door to further downside pressure.
Critical daily support at $70 was broken, keeping the bears in control.

Ken Chigbo Independent Analyst

Spot rate: 64.13

Relative change: -3.55%

High: 66.80

Low: 62.16

LTC/USD

Overview
Today last price	64.3642
Today Daily Change	-2.4294
Today Daily Change %	-3.64
Today daily open	66.7936

Trends
Daily SMA20	76.9556
Daily SMA50	87.6627
Daily SMA100	104.1243
Daily SMA200	85.5821

Levels
Previous Daily High	73.066
Previous Daily Low	64.6314
Previous Weekly High	79.0884
Previous Weekly Low	70.0674
Previous Monthly High	127.2049
Previous Monthly Low	76.4679
Daily Fibonacci 38.2%	67.8534
Daily Fibonacci 61.8%	69.844
Daily Pivot Point S1	63.2613
Daily Pivot Point S2	59.729
Daily Pivot Point S3	54.8266
Daily Pivot Point R1	71.6959
Daily Pivot Point R2	76.5983
Daily Pivot Point R3	80.1306

LTC/USD daily chart

Price action remains heavily weighted to the downside, following support breach and flag breakout.

LTC/USD 60-minute chart

Range block breakout is seen via the 60-minute chart view, retest in play.

Author

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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LTC/USD

LTC/USD daily chart

LTC/USD 60-minute chart

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