Litecoin technical analysis: LTC/USD falling wedge pattern hints breakout


  • Litecoin stays in range even as bears increase their grip across the board.
  • Litecoin is bearish in the short-term especially with the RSI grinding lower.

Spot rate: $54

Relative change: -0.8348

Percentage change: -1.52%

Open: $55.01

High: $55.01

Trend: Bearish

LTC/USD daily chart

Litecoin is grinding closer to a falling wedge pattern likely to correct the extended downtrend.

The zone at $50-53 becomes a viable support area capable of halting massive declines.

LTC/USD four-hour chart

The rectangle pattern formed suggests increasing bearish control and a possible fall towards $20.

Litecoin has a bearish bias in the short-term based on the Relative Strength Index (RSI).

LTC/USD one-hour chart

An ongoing retracement is likely to break the short-term trendline support.

The upside is limited by the 21 Simple Moving Average (SMA) while the downside is supported by the 50 SMA.

LTC/USD

Overview
Today last price 54.2049
Today Daily Change -0.8010
Today Daily Change % -1.46
Today daily open 55.0059
 
Trends
Daily SMA20 55.8664
Daily SMA50 62.6699
Daily SMA100 74.3313
Daily SMA200 87.9551
 
Levels
Previous Daily High 55.6286
Previous Daily Low 52.7454
Previous Weekly High 57.8297
Previous Weekly Low 51.1734
Previous Monthly High 80.2956
Previous Monthly Low 50.399
Daily Fibonacci 38.2% 54.5272
Daily Fibonacci 61.8% 53.8468
Daily Pivot Point S1 53.2913
Daily Pivot Point S2 51.5768
Daily Pivot Point S3 50.4082
Daily Pivot Point R1 56.1745
Daily Pivot Point R2 57.3431
Daily Pivot Point R3 59.0576

 

 

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