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

 

 

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