Litecoin Technical Analysis: LTC/USD must hold above $57 for big gains north


  • Litecoin price on Wednesday trading up with gains of some 3.15% in the second half of the session, outperforming several of its peers. 
  • LTC/USD price action via the daily continues to move within a bullish pennant structure.
  • Bulls managed to extend to the upside breaking out from a descending channel formation. 

 

Spot rate:                 0.3061

Relative change:      +1.45%

High:                        0.3104

Low:                         0.3003

 

Trend:                       Bullish 

LTC/USD

Overview
Today last price 60.3789
Today Daily Change 1.3744
Today Daily Change % 2.33
Today daily open 59.0045
 
Trends
Daily SMA20 58.6252
Daily SMA50 50.3928
Daily SMA100 41.1735
Daily SMA200 44.3914
 
Levels
Previous Daily High 59.3938
Previous Daily Low 57.5977
Previous Weekly High 63.0977
Previous Weekly Low 57.6462
Previous Monthly High 53.9838
Previous Monthly Low 30.8359
Daily Fibonacci 38.2% 58.2838
Daily Fibonacci 61.8% 58.7077
Daily Pivot Point S1 57.9368
Daily Pivot Point S2 56.8692
Daily Pivot Point S3 56.1407
Daily Pivot Point R1 59.733
Daily Pivot Point R2 60.4615
Daily Pivot Point R3 61.5292

 

LTC/USD 60-minute chart

  • Big bull action sees price smash out to the upside from a descending channel formation. 

LTC/USD daily chart

  • Daily price action continues to move within a bullish pennant pattern formation. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Ethereum Classic price lags behind Bitcoin and XRP despite upcoming rally

Ethereum Classic price action for the Thursday trade session has been the definition of a whipsaw. The daily candlestick open has dropped as much as 9.5% and spiked higher by as much as 10.5% - big swings in all directions.

More Ethereum Classic news

VeChain price nears a 120% bullish breakout

VeChain price has made significant gains during the Thursday trade session, capitalizing on Ethereum’s bullish move to new all-time highs. VeChain itself has traded higher than 10% on the day, outperforming the majority of its peers. VeChain is likely to convert to bull-market conditions ahead of most altcoins.

More VeChain news

Polkadot price sees bullish breakout, but risks fading

Polkadot (DOT) has made another attempt to break out of the bullish triangle. This is the fourth time already in just one month that price has tried to break to the upside, making it primed to likely succeed at the next attempt.

More Polkadot News

Litecoin bears want to take over, but LTC price still eyes $400

Litecoin price attempts to outperform Bitcoin and Ethereum. A rally of over 100% is likely if Litecoin can crack above some key resistance levels ahead. Litecoin is on target to make its own, new all-time highs if conditions are favorable.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast

BTC

ETH

XRP