Litecoin technical analysis: LTC/USD inclines towards the beckoning $50 level


  • Litecoin is trading above a long-term descending trendline resistance but $70 hurdle remains unconquered.
  • LYC/USD continues to battle bearish pressure in a bid to stay above $60.

Spot rate: $60.98

Relative change: -0.3774

Percentage change: -0.61%

Trend: Bearish

Volatility: Expanding

LTC/USD daily chart

The formation of a rising wedge pattern means that a breakdown towards $50 is in the offing.

The zone between $46 - $50 remains the key support area able to defend against acute selling pressure.

LTC/USD 4-hour chart

LTC/USD slides under the ascending trendline support but bulls manage to defend $60.00 short-term support.

The MACD shows that the bears are gaining traction with a short term target at $58.

LTC/USD 1-hour chart

The short term trendline support has been tested twice and has the potential to defend $60 support.

The MACD’s bullish cross suggests that bulls are gaining traction in the near-term.

LTC/USD

Overview
Today last price 61.0221
Today Daily Change -0.3361
Today Daily Change % -0.55
Today daily open 61.3582
 
Trends
Daily SMA20 59.6387
Daily SMA50 57.3559
Daily SMA100 66.1416
Daily SMA200 85.2653
 
Levels
Previous Daily High 62.2381
Previous Daily Low 59.6721
Previous Weekly High 64.3264
Previous Weekly Low 57.3543
Previous Monthly High 64.1049
Previous Monthly Low 47.2078
Daily Fibonacci 38.2% 60.6523
Daily Fibonacci 61.8% 61.2579
Daily Pivot Point S1 59.9408
Daily Pivot Point S2 58.5234
Daily Pivot Point S3 57.3748
Daily Pivot Point R1 62.5068
Daily Pivot Point R2 63.6555
Daily Pivot Point R3 65.0729

 

 

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