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Litecoin technical analysis: LTC/USD trends horizontally after dropping down from its range

  • The SMA 20 curve acts as an immediate market resistance.
  • The 20-day Bollinger band has widened in the four-hour chart, indicating increasing market volatility.
Litecoin technical analysis: LTC/USD trends horizontally after dropping down from its range
Rajarshi MitraRajarshi MitraIndependent Analyst

LTC/USD daily chart

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LTC/USD was trending horizontally in a narrow range before the price dropped down this Wednesday. Currently, LTC/USD is priced at $49.60 and has found resistance at the SMA 20 curve. The Relative Strength Index (RSI) indicator is trending around 33.15.

LTC/USD four-hour chart

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The four-hour LTC/USD chart is trending in an upwards channel formation and has met resistance at the $50.25 line. The 20-day Bollinger jaw has widened, indicating increasing market volatility. The Moving Average Convergence/Divergence (MACD) shows decreasing bearish momentum.

LTC/USD hourly chart

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The hourly chart has found support at the upward trending line. The SMA 20 curve has taken a sharp turn and now acts as immediate market resistance. The Elliott Oscillator shows six straight bearish sessions.

Key Levels

LTC/USD

Overview
Today last price49.6011
Today Daily Change-0.1065
Today Daily Change %-0.21
Today daily open49.7076
 
Trends
Daily SMA2054.9992
Daily SMA5061.4823
Daily SMA10072.5447
Daily SMA20087.2312
 
Levels
Previous Daily High50.4118
Previous Daily Low48.4674
Previous Weekly High57.8297
Previous Weekly Low51.1734
Previous Monthly High80.2956
Previous Monthly Low50.399
Daily Fibonacci 38.2%49.669
Daily Fibonacci 61.8%49.2102
Daily Pivot Point S148.6461
Daily Pivot Point S247.5846
Daily Pivot Point S346.7017
Daily Pivot Point R150.5904
Daily Pivot Point R251.4733
Daily Pivot Point R352.5348


 

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

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