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
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.
