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Litecoin Technical Analysis: LTC/USD bulls need to capitalize now on bullish flag structure

  • Litecoin price on Tuesday is trading in very minor positive territory, small gains of just some 0.20%.
  • LTC/USD via the daily broke out earlier in the week from a bullish flag structure, however a lack of capitalizing on this as of yet.
  • The next major upside target for the bulls remains the psychological $100 level. 
Litecoin Technical Analysis: LTC/USD bulls need to capitalize now on bullish flag structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  75.80

Relative change:      +0.20%

High:                         79.51

Low:                          74.64

LTC/USD

Overview
Today last price76.1189
Today Daily Change0.4976
Today Daily Change %0.66
Today daily open75.6213
 
Trends
Daily SMA2075.6765
Daily SMA5073.7176
Daily SMA10059.5777
Daily SMA20048.4975
Levels
Previous Daily High77.6868
Previous Daily Low72.2954
Previous Weekly High81.3432
Previous Weekly Low66.0294
Previous Monthly High99.4789
Previous Monthly Low60.3565
Daily Fibonacci 38.2%74.3549
Daily Fibonacci 61.8%75.6273
Daily Pivot Point S172.7155
Daily Pivot Point S269.8098
Daily Pivot Point S367.3242
Daily Pivot Point R178.1069
Daily Pivot Point R280.5925
Daily Pivot Point R383.4983

LTC/USD 60-minute chart

  • The bears smashed a key supporting ascending trend line, which invited a wave of selling upon the breach.

LTC/USD daily chart

  • Price action via the daily has broken out from a bullish flag pattern formation, however yet to capitalise on this. 

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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