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Litecoin technical analysis: LTC/USD dangerous evening star formation

  • Litecoin price on Friday is trading in negative territory down over 1.8%, running at two days of losses.
  • LTC/USD on Wednesday produced a daily evening star formation, suggesting further potential downside. 
  • A long-running ascending trend line can be seen, which has been in play since late April. 
Litecoin technical analysis: LTC/USD dangerous evening star formation
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 128.71

Relative change:      +0.20%

High:                        133.17

Low:                         128.66

LTC/USD

Overview
Today last price128.6352
Today Daily Change-2.2259
Today Daily Change %-1.70
Today daily open130.8611
 
Trends
Daily SMA20115.9279
Daily SMA5095.7348
Daily SMA10082.7692
Daily SMA20058.8246
Levels
Previous Daily High137.0218
Previous Daily Low128.1532
Previous Weekly High121.1976
Previous Weekly Low97.5782
Previous Monthly High122.0347
Previous Monthly Low72.2954
Daily Fibonacci 38.2%131.541
Daily Fibonacci 61.8%133.634
Daily Pivot Point S1127.0023
Daily Pivot Point S2123.1434
Daily Pivot Point S3118.1336
Daily Pivot Point R1135.8709
Daily Pivot Point R2140.8807
Daily Pivot Point R3144.7395

LTC/USD 60-minute chart

  • Price has dipped under a key near-term ascending trend line of support, subject to possible pressure from the bears. 

LTC/USD daily chart

  • The price via the daily is subject to further downside pressure, following an evening star formation on Wednesday. 

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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