- 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%
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.
|Today last price||52.4094|
|Today Daily Change||-2.0186|
|Today Daily Change %||-3.71|
|Today daily open||54.428|
|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|
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