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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. 
Litecoin Technical Analysis: LTC/USD must hold above $57 for big gains north
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 0.3061

Relative change:      +1.45%

High:                        0.3104

Low:                         0.3003

Trend:                       Bullish 

LTC/USD

Overview
Today last price60.3789
Today Daily Change1.3744
Today Daily Change %2.33
Today daily open59.0045
 
Trends
Daily SMA2058.6252
Daily SMA5050.3928
Daily SMA10041.1735
Daily SMA20044.3914
 
Levels
Previous Daily High59.3938
Previous Daily Low57.5977
Previous Weekly High63.0977
Previous Weekly Low57.6462
Previous Monthly High53.9838
Previous Monthly Low30.8359
Daily Fibonacci 38.2%58.2838
Daily Fibonacci 61.8%58.7077
Daily Pivot Point S157.9368
Daily Pivot Point S256.8692
Daily Pivot Point S356.1407
Daily Pivot Point R159.733
Daily Pivot Point R260.4615
Daily Pivot Point R361.5292

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. 

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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