Litecoin technical analysis: LTC/USD over-valued and may face correction

LTC/USD daily chart

  • LTC/USD went up from $100.50 to $104 this Saturday.
  • The bulls need to overcome the resistance level at $107.
  • The market is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves.
  • The latest session finds support at the upward trending line.
  • The relative strength index (RSI) indicator is trending at 66.67 next to the overbought zone.

LTC/USD 4-hour chart

  • The latest session is trending above the upper curve of the 20-day Bollinger band, which shows that it may be over-valued and faces correction.
  • The 4-hour market was trending in a flag formation from which it had a bullish breakout.
  • The widening of the 20-day Bollinger band indicates higher market volatility.
  • The moving average convergence/divergence (MACD) indicator shows increased bullish momentum.
  • The SMA 20 curve has crossed over the SMA 50 curve which is a bullish sign.

LTC/USD hourly chart

  • The hourly LTC/USD price had a bullish breakout from the green cloud of the Ichimoku indicator.
  • The price is currently trending upwards in a channel formation.
  • The Ichimoku indicator shows that the upcoming future market sentiment is bearish.
  • The Elliot oscillator has had two straight bullish sessions following six consecutive bearish sessions.

Key levels

LTC/USD

Overview
Today last price 102.9126
Today Daily Change 2.2812
Today Daily Change % 2.27
Today daily open 100.6314
 
Trends
Daily SMA20 86.7307
Daily SMA50 82.3012
Daily SMA100 68.9706
Daily SMA200 51.7635
Levels
Previous Daily High 103.9176
Previous Daily Low 88.3311
Previous Weekly High 103.9176
Previous Weekly Low 84.7657
Previous Monthly High 99.4789
Previous Monthly Low 60.3565
Daily Fibonacci 38.2% 97.9636
Daily Fibonacci 61.8% 94.2852
Daily Pivot Point S1 91.3358
Daily Pivot Point S2 82.0402
Daily Pivot Point S3 75.7492
Daily Pivot Point R1 106.9223
Daily Pivot Point R2 113.2133
Daily Pivot Point R3 122.5089

 

 

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