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Litecoin technical analysis: LTC/USD major barrier at $120 needs to be broken for greater gains

  • LItecoin price is trading with gains of over 4% in the second part of the session on Friday. 
  • LTC/USD bulls trying to break down heavy daily supply around the $120 territory. 
  • Anticipation heading into the Litecoin halving appears to be driving some momentum, it is happening in some 60 days. 
Litecoin technical analysis: LTC/USD major barrier at $120 needs to be broken for greater gains
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 116.36

Relative change:      +4.45%

High:                        116.42

Low:                         109.95

LTC/USD

Overview
Today last price115.6577
Today Daily Change4.2663
Today Daily Change %3.83
Today daily open111.3914
 
Trends
Daily SMA20103.8384
Daily SMA5089.0397
Daily SMA10077.2829
Daily SMA20055.6637
Levels
Previous Daily High112.171
Previous Daily Low101.0757
Previous Weekly High122.0347
Previous Weekly Low99.2339
Previous Monthly High122.0347
Previous Monthly Low72.2954
Daily Fibonacci 38.2%107.9326
Daily Fibonacci 61.8%105.3141
Daily Pivot Point S1104.2544
Daily Pivot Point S297.1175
Daily Pivot Point S393.1592
Daily Pivot Point R1115.3497
Daily Pivot Point R2119.3079
Daily Pivot Point R3126.4449

LTC/USD 60-minute chart

  • The significance of the $120 price territory can be seen clearly via the 60-minute view. 

LTC/USD daily chart

  • Price action via the daily is resting a critical area of supply up at $120, a break could invite a stronger wave of buying pressure.

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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