Litecoin technical analysis: LTC/USD breaks below SMA 200, following heavily bearish Wednesday


  • LTC/USD has recovered to $76.55 following Wednesday’s plunge in price.
  • Moving average convergence/divergence (MACD) shows increasing bearish momentum.

LTC/USD daily chart

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Like the rest of the market, LTC/USD had a heavily bearish Wednesday. Litecoin went down from $84.65 to $75.85, breaking below the 200-day simple moving average (SMA 200) curve in the process. So far, the price has recovered to $76.55. The SMA 50 and SMA 20 curves are trending above the market. The moving average convergence/divergence (MACD) shows increasing bearish momentum.

LTC/USD 4-hour chart

fxsoriginal

The LTC/USD 4-hour chart is currently consolidating in a flag formation. The price has broken below the 20-day Bollinger band, indicating that it is undervalued. The 20-day Bollinger jaw has widened, showing that market volatility is increasing. The Elliot oscillator shows six straight bearish sessions with increasing intensity.

LTC/USD hourly chart

fxsoriginal

The hourly chart shows that currently bullish momentum is being stalled at the downward trending line. The price was trending inside the green Ichimoku cloud before it broke down. The hourly price chart is also trending below the SMA 20, SMA 50 and SMA 200 curves. The relative strength index (RSI) indicator is trending in the oversold zone and is trying to get out of it.

Key Levels

LTC/USD

Overview
Today last price 75.9769
Today Daily Change 0.1246
Today Daily Change % 0.16
Today daily open 75.8523
 
Trends
Daily SMA20 90.4702
Daily SMA50 101.0713
Daily SMA100 105.9339
Daily SMA200 82.7558
Levels
Previous Daily High 86.1096
Previous Daily Low 74.6653
Previous Weekly High 106.8665
Previous Weekly Low 82.5963
Previous Monthly High 127.2049
Previous Monthly Low 76.4679
Daily Fibonacci 38.2% 79.037
Daily Fibonacci 61.8% 81.7379
Daily Pivot Point S1 71.6419
Daily Pivot Point S2 67.4314
Daily Pivot Point S3 60.1975
Daily Pivot Point R1 83.0862
Daily Pivot Point R2 90.32
Daily Pivot Point R3 94.5305

 


 

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