• All the major cryptocurrencies are trading in the red today and Litecoin is 1.71% lower.
  • The RSI is giving a bullish signal but it still needs to be confirmed.

 

LTC/USD has found some support at the value area on the volume profile indicator on the right-hand side of the chart.

This represents the area where most volume has been traded and in this case, it is at 55.80.

The relative strength index (RSI) indicator is showing a bullish failure swing. This is when the indicator makes a wave low but the price makes a higher low.

There has been decent volume on the sell-off but we need to see what happens when the Asian traders come to market.

The psychological 60 level on the upside is the target for the bulls and this is where price stalled on the last bullish run.

Litecoin Analysis

LTC/USD

Overview
Today last price 56.1386
Today Daily Change  -1.6227
Today Daily Change % -2.81
Today daily open 57.7613
 
Trends
Daily SMA20 58.5022
Daily SMA50 65.5231
Daily SMA100 79.9328
Daily SMA200 88.304
 
Levels
Previous Daily High 59.4981
Previous Daily Low 57.2165
Previous Weekly High 57.7344
Previous Weekly Low 52.1872
Previous Monthly High 80.2956
Previous Monthly Low 50.399
Daily Fibonacci 38.2% 58.0881
Daily Fibonacci 61.8% 58.6265
Daily Pivot Point S1 56.8192
Daily Pivot Point S2 55.8771
Daily Pivot Point S3 54.5377
Daily Pivot Point R1 59.1008
Daily Pivot Point R2 60.4402
Daily Pivot Point R3 61.3823

 

 

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