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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 Technical Analysis: LTC/USD gets some hope after a 1.7% surge to $42
Lorenzo StroeLorenzo StroeIndependent Analyst

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 price41.8718
Today Daily Change0.6851
Today Daily Change %1.66
Today daily open41.1867
 
Trends
Daily SMA2043.1688
Daily SMA5044.211
Daily SMA10043.6044
Daily SMA20049.3554
 
Levels
Previous Daily High42.0496
Previous Daily Low40.7456
Previous Weekly High44.6516
Previous Weekly Low41.3218
Previous Monthly High49.9214
Previous Monthly Low39.4455
Daily Fibonacci 38.2%41.2437
Daily Fibonacci 61.8%41.5515
Daily Pivot Point S140.605
Daily Pivot Point S240.0233
Daily Pivot Point S339.301
Daily Pivot Point R141.909
Daily Pivot Point R242.6313
Daily Pivot Point R343.2131

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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