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. 

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