Litecoin Technical Analysis: LTC/USD remains subject to further chunky buying pressure


  • Litecoin price trading with modest gains of around 1% on Thursday, in the second half of the session.
  • LTC/USD daily price action has formed a bullish pennant pattern, subject to a potential breakout higher.

Spot rate:                 56.29

Relative change:      +0.95%

High:                        58.68

Low:                         53.71

Trends:
    Daily SMA20: 51.1513
    Daily SMA50: 43.2659
    Daily SMA100: 36.8509
    Daily SMA200: 44.5307
Levels:
    Previous Daily High: 57.2004
    Previous Daily Low: 54.9044
    Previous Weekly High: 59.5887
    Previous Weekly Low: 45.1089
    Previous Monthly High: 53.9838
    Previous Monthly Low: 30.8359
    Daily Fibonacci 38.2%: 55.7815
    Daily Fibonacci 61.8%: 56.3233
    Daily Pivot Point S1: 54.7539
    Daily Pivot Point S2: 53.6811
    Daily Pivot Point S3: 52.4579
    Daily Pivot Point R1: 57.0499
    Daily Pivot Point R2: 58.2732
    Daily Pivot Point R3: 59.346

LTC/USD 60-minute chart

  • Over the 60-minute chart view the price is moving within a large triangular pattern structure. 

LTC/USD daily chart

  • Price action is still moving within the confinements of a bullish pennant pattern.
  • The formation of the above-noted has been observed since 7th March, subject to a breakout. 

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.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Opportunity in Bitcoin for bargain hunters

First, the strong bullish move yesterday by Bitcoin, which gained more than $1,000 in 60 minutes. The movement has placed the BTC/USD pair above all major moving averages and opens the door to further rises in the absence of relevant resistance.

More Bitcoin News

Ripple’s XRP recovery from April lows marks the beginning to breakout

Ripple has dived massively from the recent highs. The breakout above both the 50 Simple Moving Average (SMA) 1-D and the 100 SMA 1-D propelled XRP past critical hurdles. For the first in 2019, the price exchanged hands above $0.5. 

More Ripple News

Litecoin market overview: LTC/USD oversold and ready to bounce

Litecoin is showing signs of exhaustion from the downtrend experienced from the beginning of July. Recovery to June highs around $146 has been impossible with the path of least resistance having an affinity to the south.

More Litecoin News

Ethereum 2.0 January 3, 2020 launch date remains unconfirmed

The Ethereum ecosystem is preparing for what is known as the biggest milestone for the network, Ethereum 2.0. The new protocol is still in the development stages and researchers have recently told the community that it is possible that there will be a delay in the launch.

More Ethereum News

Bitcoin Weekly Forecast: bulls lick wounds after major sell-off

The cryptocurrency market has lived through a dreadful week as Bitcoin(BTC), and all major altcoins crashed below several important support levels. 

Read the weekly forecast

BTC

ETH

XRP