Litecoin Chart Analysis: LTC/USD is bullish but still needs to break $50.87

LTC is up 10% in the last 48 hours.
The current uptrend could be stopped by the resistance level at $50.87.
LTC/USD has experienced a significant surge in trading volume on most exchanges.

LTC/USD daily chart

After a clear bull break on May 30, LTC/USD is now trading at around $49.58, inches away from the $50 resistance level, and the crucial $50.87 resistance point set on May 4. Bulls managed to break above the daily 12-EMA and the 26-EMA which also crossed bullishly.

Rejection of $50.87 can still hinder the current uptrend. So far, Litecoin has only been following the movement of Bitcoin and Ethereum, and it’s still at their mercy. A clear break above $50.87 can quickly push LTC up to $60.

LTC/USD 4-hour chart

Litecoin is inside a clear and robust 4-hour uptrend where bulls can look at all the higher lows as support levels. The nearest support level, however, is the 12-EMA currently set at $47.91, followed by the 26-EMA at $46.84. The RSI is overextended and will need to cool off eventually, but it won’t necessarily stop the bulls from breaking $50.

LTC/USD technical levels

LTC/USD

Overview
Today last price	49.4997
Today Daily Change	1.2193
Today Daily Change %	2.53
Today daily open	48.2804

Trends
Daily SMA20	44.254
Daily SMA50	44.2869
Daily SMA100	45.6321
Daily SMA200	49.9754

Levels
Previous Daily High	48.8872
Previous Daily Low	45.3553
Previous Weekly High	45.3078
Previous Weekly Low	41.7519
Previous Monthly High	50.0012
Previous Monthly Low	39.3673
Daily Fibonacci 38.2%	47.538
Daily Fibonacci 61.8%	46.7045
Daily Pivot Point S1	46.1281
Daily Pivot Point S2	43.9758
Daily Pivot Point S3	42.5963
Daily Pivot Point R1	49.66
Daily Pivot Point R2	51.0395
Daily Pivot Point R3	53.1918

Share: Cryptos feed

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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.