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Litecoin technical analysis: LTC/USD price is vulnerable within a bearish pennant

  • Litecoin price on Friday is trading in the green, up some 2.40%. 
  • LTC/USD price action is moving within consolidation mode, having formed a bearish pennant structure. 
  • A retest of the breached daily pennant structure, which the bears forced a way out of last week. 
Litecoin technical analysis: LTC/USD price is vulnerable within a bearish pennant
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 75.20

Relative change:      +2.40%

High:                         76.03

Low:                          72.51

LTC/USD

Overview
Today last price75.2201
Today Daily Change1.7449
Today Daily Change %2.37
Today daily open73.4752
 
Trends
Daily SMA2083.1189
Daily SMA5093.375
Daily SMA100105.3958
Daily SMA20084.4645
Levels
Previous Daily High74.6485
Previous Daily Low71.0077
Previous Weekly High91.3658
Previous Weekly Low70.8917
Previous Monthly High127.2049
Previous Monthly Low76.4679
Daily Fibonacci 38.2%73.2577
Daily Fibonacci 61.8%72.3985
Daily Pivot Point S171.4391
Daily Pivot Point S269.4029
Daily Pivot Point S367.7982
Daily Pivot Point R175.0799
Daily Pivot Point R276.6846
Daily Pivot Point R378.7208

LTC/USD daily chart

  • Price action moving within a bearish pennant structure, subject to a breach. 

LTC/USD 60-minute chart

  •  Price action breaks out from a descending wedge structure, leaving door open to some buying momentum. 

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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