• Litecoin has been trading sideways for a lot longer than the majority of cryptos.
  • There hasn’t been a clear bull break for Litecoin since April 30.
  • LTC/USD is in a daily parallel channel. 

Litecoin is basically trading inside a daily parallel channel that is going nowhere. Since April 25, Litecoin has been trading between $41 and $50 and has touched the $50 mark on five different occasions but with no continuation. Similarly, the area around $41-40 has served as support numerous times. 

LTC/USD daily chart

LTCUSD

Today Litecoin held $41.75 again and is seeing a decent recovery following some of the major cryptos. The most important resistance level is still at $50 and bulls need to prove themselves by breaking it convincingly with a lot of continuation. 

Unfortunately, the daily EMAs have crossed bearishly and Litecoin is still far away from the 12-EMA at $45. 

LTC/USD 4-hour chart

LTCUSD

There is a clear bounce underway but the 4-hour downtrend is still in play and Litecoin is currently getting rejected from the 12-EMA at $43.72. Bulls need to climb above the 12-EMA and the 26-EMA and set a higher low followed by a higher high in order to change the downtrend. 

LTC/USD technical levels

LTC/USD

Overview
Today last price 43.7058
Today Daily Change -0.3106
Today Daily Change % -0.71
Today daily open 44.0164
 
Trends
Daily SMA20 45.6952
Daily SMA50 45.2656
Daily SMA100 43.2737
Daily SMA200 49.563
 
Levels
Previous Daily High 45.0949
Previous Daily Low 43.5492
Previous Weekly High 47.1719
Previous Weekly Low 41.452
Previous Monthly High 50.0012
Previous Monthly Low 39.3673
Daily Fibonacci 38.2% 44.1396
Daily Fibonacci 61.8% 44.5044
Daily Pivot Point S1 43.3454
Daily Pivot Point S2 42.6744
Daily Pivot Point S3 41.7996
Daily Pivot Point R1 44.8911
Daily Pivot Point R2 45.7659
Daily Pivot Point R3 46.4369

 

 

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