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Litecoin Technical Analysis: Will the trendline break hold?

  • Crypto sentiment remains weak on the last trading day of the year.
  • LTC/USD is 1.66% lower today and we are looking to see if the trendline retest will hold.
Litecoin Technical Analysis: Will the trendline break hold?
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

LTC/USD Daily Chart

Litecoin did break the trendline but the bearishness has kicked back in during the holiday season.

The LTC/USD price is still under the 55 and 200 daily EMA's which is a bearish sign.

The RSI is also in a bearish zone under the 50 mid-line but a bullish divergence may be forming.

The key support is 35.88 as if it breaks the price will make a new wave low.

Longerterm the trend looks set to continue and there the only sign of a bullish reversal is the trendline break.

Litecoin

Additional Levels

LTC/USD

Overview
Today last price41.6414
Today Daily Change-0.6431
Today Daily Change %-1.52
Today daily open42.2845
 
Trends
Daily SMA2041.4259
Daily SMA5047.0568
Daily SMA10052.693
Daily SMA20074.2223
 
Levels
Previous Daily High44.0506
Previous Daily Low41.77
Previous Weekly High42.7075
Previous Weekly Low39.4533
Previous Monthly High66.2492
Previous Monthly Low42.351
Daily Fibonacci 38.2%42.6412
Daily Fibonacci 61.8%43.1794
Daily Pivot Point S141.3528
Daily Pivot Point S240.4212
Daily Pivot Point S339.0723
Daily Pivot Point R143.6334
Daily Pivot Point R244.9822
Daily Pivot Point R345.9139

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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