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Litecoin Technical Analysis: LTC/USD breakdown infiltrates $40 support as focus shifts to $30

  • Litecoin battered bulls scatter into hibernation; selling activity intensifies under $40.
  • Oversold conditions in both the long term and short term timeframes suggest that a reversal is around the corner.

Spot rate: $39.80

Relative change: -0.1632

Percentage change: -0.42%

Trend: Bearish

Volatility: Low

LTC/USD daily chart

Litecoin renewed the bearish momentum on breaching the falling triangle pattern support.

As long as the price remains under $40, the focus will stay at $30 because the bears continually gain confidence.

The prevailing oversold conditions as displayed by the stochastic RSI signal that a reversal is on the way.

LTC/USD 4-hour chart

If Litecoin bulls take advantage of the falling wedge pattern and force a breakout above $45, the potential of recovery above $65 supply zone will increase greatly.

The Stochastic RSI indicator suggests that a recovery is in the offing although delayed breakouts and lagging movements should be expected.

LTC/USD

Overview
Today last price39.6722
Today Daily Change-0.2928
Today Daily Change %-0.73
Today daily open39.965
 
Trends
Daily SMA2045.1273
Daily SMA5052.4018
Daily SMA10056.8406
Daily SMA20079.2886
 
Levels
Previous Daily High43.5629
Previous Daily Low39.0733
Previous Weekly High46.3719
Previous Weekly Low42.8434
Previous Monthly High66.2492
Previous Monthly Low42.351
Daily Fibonacci 38.2%40.7883
Daily Fibonacci 61.8%41.8479
Daily Pivot Point S138.1712
Daily Pivot Point S236.3774
Daily Pivot Point S333.6816
Daily Pivot Point R142.6609
Daily Pivot Point R245.3567
Daily Pivot Point R347.1505

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

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