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Litecoin Price Analysis: LTC/USD bulls must break bearish price structure

  • Litecoin price is trading in positive territory by 1% in the session on Monday. 
  • LTC/USD is being capped by a large barrier seen at the $60 price mark. 
  • The bulls as seen across the other major altcoins have regained control. 
Litecoin Price Analysis: LTC/USD bulls must break bearish price structure
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Price action via the weekly chart view has been within a bearish market structure. The bulls must break down the prior extreme high area in November up at around $60. 

LTC/USD daily chart

The daily chart view has seen a breakout and extension to the upside from a bullish flag structure. 

Spot rate:                 54.97

Relative change:    +5.50%

High:                        59.33

Low:                         55.86

LTC/USD

Overview
Today last price59.2576
Today Daily Change3.0885
Today Daily Change %5.50
Today daily open56.1691
 
Trends
Daily SMA2053.9333
Daily SMA5046.7542
Daily SMA10050.4654
Daily SMA20063.5832
 
Levels
Previous Daily High56.5895
Previous Daily Low52.8193
Previous Weekly High62.4609
Previous Weekly Low50.6584
Previous Monthly High48.5063
Previous Monthly Low35.9836
Daily Fibonacci 38.2%55.1493
Daily Fibonacci 61.8%54.2595
Daily Pivot Point S153.7958
Daily Pivot Point S251.4225
Daily Pivot Point S350.0256
Daily Pivot Point R157.5659
Daily Pivot Point R258.9628
Daily Pivot Point R361.3361

Author

Ken Chigbo

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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