Litecoin Price Analysis: LTC can't break past 40.00

Litecoin trades 7.7% higher on Monday as crypto sentiment remains positive.
LTC/USD could not break 40.00 as it was a step too far for the bulls.

LTC/USD 1-hour chart

Litecoin has had a good start to the week as LTC/USD pushed over 7% higher. Most of the major cryptocurrencies are higher but LTC/USD is the second-best performing major after Bitcoin. Since the heave falls seen between the 24th February and 12th March the price has consolidated between 25.00 and 43.97. Can the bull break out of this zone?

Looking closer at the chart, the blue psychological 40.00 level is now the closest resistance. In terms of support levels, the red horizontal line just above 34.50 is now prominent. On a bigger scale, 30.00 looks strong as the next support zone. But the bears would need to regain control to push the price there. Longer term the trend is still down until 43.97 is broken so be careful if you are counter trend trading.

Additional levels

LTC/USD

Overview
Today last price	38.1465
Today Daily Change	2.7079
Today Daily Change %	7.64
Today daily open	35.4386

Trends
Daily SMA20	45.0065
Daily SMA50	61.0763
Daily SMA100	55.1063
Daily SMA200	56.3572

Levels
Previous Daily High	39.6976
Previous Daily Low	34.8603
Previous Weekly High	43.9228
Previous Weekly Low	29.277
Previous Monthly High	84.4232
Previous Monthly Low	56.6073
Daily Fibonacci 38.2%	36.7081
Daily Fibonacci 61.8%	37.8497
Daily Pivot Point S1	33.6334
Daily Pivot Point S2	31.8282
Daily Pivot Point S3	28.7961
Daily Pivot Point R1	38.4707
Daily Pivot Point R2	41.5028
Daily Pivot Point R3	43.308

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