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Litecoin technical analysis: LTC/USD weekly bearish flag breakout

  • Litecoin price is trading in the red, with losses of 2.75%  the session on Monday.
  • LTC/USD is back within the control of the bears after a decent three-week run higher. 
  • Critical support at the $60 price mark has been breached, which allowed a fresh wave of selling.
Litecoin technical analysis: LTC/USD weekly bearish flag breakout
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Price action via the weekly chart view broke out from a bearish flag pattern. 

LTC/USD daily chart

The price is testing a critical daily demand zone, $57-56 range.

Spot rate:                  57.63

Relative change:      -2.75%

High:                         59.32

Low:                          57.26

LTC/USD

Overview
Today last price57.5209
Today Daily Change-1.7351
Today Daily Change %-2.93
Today daily open59.256
 
Trends
Daily SMA2060.3301
Daily SMA5057.4175
Daily SMA10064.7862
Daily SMA20085.0442
 
Levels
Previous Daily High60.0877
Previous Daily Low57.6537
Previous Weekly High66.2492
Previous Weekly Low56.1643
Previous Monthly High64.1049
Previous Monthly Low47.2078
Daily Fibonacci 38.2%59.1579
Daily Fibonacci 61.8%58.5835
Daily Pivot Point S157.9106
Daily Pivot Point S256.5652
Daily Pivot Point S355.4766
Daily Pivot Point R160.3446
Daily Pivot Point R261.4331
Daily Pivot Point R362.7786

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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