LTC/USD Price Prediction: Stack of support lines protecting critical $75 level - Confluence Detector

  • LTC/USD is trading for $79.08 as markets opened this Friday.
  • Bulls need to protect critical $75 line to prevent a downward crash in price.

LTC/USD began trading for $79.08 as markets opened this Friday. The asset fell from $88.34 to $79.60 this Thursday, charting a 9.89% decrease in value. The $75 support level is critical and the bulls will need to rally together and protect it at all costs. As per the daily confluence detector, a stack of support lines is defending the $75 level for now.

LTC/USD Daily Confluence Detector

As per the daily confluence detector, the support levels are at $79, $75-$76, and $74.50. The confluences at those levels are as follows:

  • $79: Hourly previous low and daily 23.6% Fibonacci retracement level.
  • $75-$76: Daily previous low, 100-day simple moving average (SMA 100), and weekly 61.8% Fibonacci retracement level.
  • $74.50: Monthly pivot point resistance 2.

The resistances are at $80.50, $83, $84.50, and $86. The confluences at those levels are:

  • $80.50: Hourly Bollinger band middle curve, 15-mind Bollinger band upper curve, hourly previous high, and 4-hour previous high.
  • $83: No confluence detected.
  • $84.50: Weekly 38.2% Fibonacci retracement level.
  • $86: Monthly pivot point resistance 3.
     

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