Litecoin Technical Analysis: LTC/USD gets some hope after a 1.7% surge to $42


  • LTC/USD is trading inside a daily downtrend below important EMAs
  • Litecoin is facing a lot of resistance towards $50.

Litecoin is currently under a lot of selling pressure, the small bullish breakout from Bitcoin is helping Litecoin but it’s certainly not enough. The daily downtrend is still here and bulls will need a lot of strength to reverse the trend. 

LTC/USD daily chart

LTCUSD

Even with this 1.7% move to $42, Litecoin still needs to crack $42.04, the high on June 30 and $42.23, the high on June 29. Buyers are also facing the 12-EMA resistance level established at $42.38 followed by the 26-EMA at $43.27. There is more resistance around $43.54 and $44 psychological level. 

Unfortunately, when it comes to support levels, Litecoin doesn’t have many besides the low of June 27 at $39.44 and $38 from April 16. 

LTC/USD technical levels

LTC/USD

Overview
Today last price 41.8718
Today Daily Change 0.6851
Today Daily Change % 1.66
Today daily open 41.1867
 
Trends
Daily SMA20 43.1688
Daily SMA50 44.211
Daily SMA100 43.6044
Daily SMA200 49.3554
 
Levels
Previous Daily High 42.0496
Previous Daily Low 40.7456
Previous Weekly High 44.6516
Previous Weekly Low 41.3218
Previous Monthly High 49.9214
Previous Monthly Low 39.4455
Daily Fibonacci 38.2% 41.2437
Daily Fibonacci 61.8% 41.5515
Daily Pivot Point S1 40.605
Daily Pivot Point S2 40.0233
Daily Pivot Point S3 39.301
Daily Pivot Point R1 41.909
Daily Pivot Point R2 42.6313
Daily Pivot Point R3 43.2131

 

 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Ethereum price breaks $600 in anticipation of ETH 2.0’s launch in December

Ethereum is currently trading at $601 after finally breaking the psychological barrier at $600 for the first time in two years. At the time of writing, around 305,920 ETH has been staked in the Eth2 deposit contract, representing 58% of what's needed for the contract to launch. 

More Ethereum News

Overhyped Linkswap launch sends YFI and LINK soaring

Linkswap, a platform for automated market-making, has not been even launched, but its proprietary token YF Link (YFL) jumped by over 30% in the past 24 hours. At the time of writing, YFL is changing hands at $1,030.

More Chainlink News

OKEX withdrawals to trigger a massive volatility spike on the cryptocurrency market

OKEx, one of the world's largest cryptocurrency exchanges, is ready to unlock a cryptocurrency withdrawal functionality on November 27. The trading platform users had to wait over a month until the company settled its legal issues and the Chinese police released one of its co-founders and a private key holder. 

More Cryptocurrencies News

Bitcoin final leg to $20,000 lingers, as crypto bull cycle rockets

Cryptocurrencies across the board had a memorable weekend session, with most of them rallying to new yearly highs. Ethereum, for instance, hit highs of $585 for the first time since 2018. On the other hand, Ripple brushed shoulders with $0.5.

More Bitcoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC makes new yearly highs while its network activity looks worrisome

Bitcoin has lived through the best week since February 2018. The pioneer digital currency price gained over $2,000 in less than seven days. The bullish momentum allowed it to reach a new multi-year high of nearly $18,800, marking November 2020 one of the strongest bullish months ever. 

Read the weekly forecast

BTC

ETH

XRP