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.
     

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin price prediction: November fails to impress, what about an action-filled December 2019?

Bitcoin is staring into a bottomless pit mid though the month of November. The past two years have seen Bitcoin start to stir movement upwards in November.

More Bitcoin News

The cryptocurrency market update: Bitcoin and major altcoins recover from early losses

The cryptocurrency market is navigating a sea of red on Friday. Bitcoin and all major altcoins are nursing losses both on a day-to-day basis and since the beginning of the day.

More Cryptocurrencies News

XRP/USD on the verge of a falling wedge pattern breakout

Ripple is trading below a key support week-long support at $0.27. The selling pressure on Thursday forced the price lower refreshing the levels towards $0.26. XRP commenced the trading on Friday at $0.2679 and touched a high of $0.2690.

More Ripple News

Litecoin price update: LTC/USD takes back $60 support, is $65 hurdle breakable?

Litecoin is in the middle of a recovery move following the recent slide below $60. The accrued gains chopping exercise that has been going on since the week started after another failed attempt to correct towards $65.

More Litecoin News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: In the middle of nowhere

Bitcoin has been drifting down since the beginning of the week, as the bulls have no luck with the recovery campaign launched during the previous weekend.

Read the weekly forecast

BTC

ETH

XRP