Litecoin technical analysis: LTC/USD extended falling wedge pattern yields

Litecoin creeps under $60 in spite of technical levels remaining relatively bullish.

Litecoin prevailing bullish bias lacks a catalyst to force a correction above $60.

Spot rate: $58.68

Relative change: +0.8164

Percentage change: 1.41%

Trend: Bullish

Volatility: Expanding

LTC/USD daily chart

The extended falling wedge pattern finally gave way for a breakout that saw Litecoin test $65 resistance level.

The short-term upward movements hindered by the 50-day Simple Moving Average (SMA).

LTC/USD 240’ chart

Litecoin has a short-term bullish bias as buyers push for correction above the $59 level support.

The Relative Strength Index (RSI) gradual slope upwards emphasizes the improving short-term bullish picture.

LTC/USD one-hour chart

The potential for recovery remains as the Moving Average Convergence Divergence (MACD) crosses into the positive territory.

Litecoin stays above the 50 SMA currently at $59.03 and the 100 SMA at $57.04.

LTC/USD

Overview
Today last price	59.1369
Today Daily Change	1.2719
Today Daily Change %	2.20
Today daily open	57.865

Trends
Daily SMA20	55.3101
Daily SMA50	60.7896
Daily SMA100	71.1645
Daily SMA200	86.6043

Levels
Previous Daily High	62.6866
Previous Daily Low	57.6926
Previous Weekly High	58.8701
Previous Weekly Low	47.2078
Previous Monthly High	80.2956
Previous Monthly Low	50.399
Daily Fibonacci 38.2%	59.6003
Daily Fibonacci 61.8%	60.7789
Daily Pivot Point S1	56.1429
Daily Pivot Point S2	54.4208
Daily Pivot Point S3	51.1489
Daily Pivot Point R1	61.1369
Daily Pivot Point R2	64.4087
Daily Pivot Point R3	66.1309

Share: Cryptos feed

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram