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Litecoin Technical Analysis: LTC/USD big bull action, extending out from flag structure

  • Litecoin is outperforming on Wednesday, holding decent gains of 7% in the session. 
  • LTC/USD price action extends to the upside after breaking out from bull flag set up. 

LTC/USD 15-minute chart

  • LTC/USD near-term price action via 15-minute chart produces somewhat of an evening star formation. A bearish candle to follow may signal a near-term pullback. 

Spot rate:                50.69

Relative change:    +7.01%

High:                       52.43

Low:                        46.58

Trend:                      Neutral

Trends:
    Daily SMA20: 39.1756
    Daily SMA50: 35.2522
    Daily SMA100: 34.0048
    Daily SMA200: 45.7334
Levels:
    Previous Daily High: 49.2579
    Previous Daily Low: 46.8979
    Previous Weekly High: 47.3684
    Previous Weekly Low: 40.3348
    Previous Monthly High: 41.4965
    Previous Monthly Low: 29.6396
    Daily Fibonacci 38.2%: 47.7995
    Daily Fibonacci 61.8%: 48.3564
    Daily Pivot Point S1: 46.4174
    Daily Pivot Point S2: 45.4777
    Daily Pivot Point S3: 44.0574
    Daily Pivot Point R1: 48.7773
    Daily Pivot Point R2: 50.1976
    Daily Pivot Point R3: 51.1373

LTC/USD 60-minute chart

  • LTC/USD bulls force a range-break via the 60-minute chart view. 

LTC/USD daily chart

  • Price action takes a chunky extension to the north following a flag breakout on the daily. 

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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