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Litecoin Technical Analysis: LTC/USD lower highs spells danger

  • Litecoin price is trading in the red in the session by some 1.20%. 
  • LTC/USD has extended to the downside, after breaking out of a bearish pennant pattern, inviting another round of selling. 
  • The price is running towards its third consecutive session in the red. 
Litecoin Technical Analysis: LTC/USD lower highs spells danger
Ken ChigboKen ChigboIndependent Analyst

LTC/USD daily chart

Price pressures are resuming to the south after critical support at $45 was breached. It was the lower acting trend line of a pennant formation. 

LTC/USD 60-minute chart

Another near-term technical pattern has been breached, eyes on a retest around $44. 

Spot rate:                 43.69

Relative change:      -1.20%

High:                         44.46

Low:                          43.28

LTC/USD

Overview
Today last price43.6037
Today Daily Change-0.5917
Today Daily Change %-1.34
Today daily open44.1954
 
Trends
Daily SMA2046.358
Daily SMA5053.6199
Daily SMA10058.2374
Daily SMA20081.0425
 
Levels
Previous Daily High44.6797
Previous Daily Low43.6837
Previous Weekly High48.5063
Previous Weekly Low43.8063
Previous Monthly High66.2492
Previous Monthly Low42.351
Daily Fibonacci 38.2%44.0642
Daily Fibonacci 61.8%44.2992
Daily Pivot Point S143.6929
Daily Pivot Point S243.1903
Daily Pivot Point S342.6969
Daily Pivot Point R144.6888
Daily Pivot Point R245.1822
Daily Pivot Point R345.6848

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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