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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. 
Litecoin technical analysis: LTC/USD big $70 support barrier breached
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  64.13

Relative change:      -3.55%

High:                         66.80

Low:                          62.16

LTC/USD

Overview
Today last price64.3642
Today Daily Change-2.4294
Today Daily Change %-3.64
Today daily open66.7936
 
Trends
Daily SMA2076.9556
Daily SMA5087.6627
Daily SMA100104.1243
Daily SMA20085.5821
Levels
Previous Daily High73.066
Previous Daily Low64.6314
Previous Weekly High79.0884
Previous Weekly Low70.0674
Previous Monthly High127.2049
Previous Monthly Low76.4679
Daily Fibonacci 38.2%67.8534
Daily Fibonacci 61.8%69.844
Daily Pivot Point S163.2613
Daily Pivot Point S259.729
Daily Pivot Point S354.8266
Daily Pivot Point R171.6959
Daily Pivot Point R276.5983
Daily Pivot Point R380.1306

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

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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