Litecoin Technical Analysis: LTC/USD bulls barricade the $50 critical support


  • Litecoin plunges towards $50 after failing to sustain gains above $60.
  • Short term analysis puts the bears in charge, meaning Litecoin could welcome the weekend session while in the red.

Spot rate: $52.28

Relative change: -2.14

Percentage change: -3.9%

Trend: Bearish 

Volatility: Shrinking 

Support: $50 and $40

Resistance: $57 and $60

LTC/USD daily chart

If Litecoin’s ongoing bearish momentum dives under $50, the chances of the 50-day SMA stopping the losses are minimal.

The path of least resistance remains to the downside unless the support at $50 forced a reversal towards $60 in the near term.

LTC/USD 4-hour chart

Ongoing losses are bound to continue based on the continuous bearish session of the Elliot Wave Oscillator.

Recovery towards $60 remains an uphill task, including the resistance at the 100 SMA at $53.82 and the 50 SMA at $57.

LTC/USD

Overview
Today last price 52.4094
Today Daily Change -2.0186
Today Daily Change % -3.71
Today daily open 54.428
 
Trends
Daily SMA20 52.3408
Daily SMA50 46.1935
Daily SMA100 50.4654
Daily SMA200 64.5503
 
Levels
Previous Daily High 58.2034
Previous Daily Low 52.3176
Previous Weekly High 63.1744
Previous Weekly Low 48.8443
Previous Monthly High 48.5063
Previous Monthly Low 35.9836
Daily Fibonacci 38.2% 54.566
Daily Fibonacci 61.8% 55.955
Daily Pivot Point S1 51.7626
Daily Pivot Point S2 49.0972
Daily Pivot Point S3 45.8767
Daily Pivot Point R1 57.6484
Daily Pivot Point R2 60.8689
Daily Pivot Point R3 63.5343

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC bulls may hit a brick wall on approach to $9,800

Bitcoin (BTC) extended the recovery to trade at $9,750 at the time of writing. The first digital asset bottomed at $9,300 on February 19 amid massive sell-off and managed to regain some ground since that time. 

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Cardano launched hardfork OBFT; ADA/USD extends the recovery

Cardano (ADA), now the 11th largest digital asset with the current market value of $1.5 billion, has gained 2.7% in recent 24 hours to trade at $0.0590 at the time of writing.

More Cardano News

BCH/USD sprints to $380 amid development tax disagreements

Bitcoin Cash explored the region at $350 as I discussed in the previous article. However, the bulls quickly entered the market ready to buy low and push the price upwards. BCH/USD is already in the green ...

More Bitcoin Cash News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP