Litecoin Price Analysis: LTC/USD explosive breakout eyed

Litecoin price is trading in negative territory by 3.10% in the session on Wednesday.
LTC/USD bulls giving up ground after two straight days in the green.
A critical range breakout is nearing, but the price could still very much go either way.

Ken Chigbo Independent Analyst

LTC/USD daily chart

A bearish flag structure is viewable via the daily chart, which if capitalized on by the bears, will spark another round of selling.

LTC/USD 60-minute chart

Price action via the 60-minute chart view has breached a near-term critical trend line of support. It can now be seen consolidating within a bearish flag structure, at risk of breach south.

Spot rate: 39.06

Relative change: -3.10%

High: 41.15

Low: 38.22

LTC/USD

Overview
Today last price	39.1038
Today Daily Change	-1.5998
Today Daily Change %	-3.93
Today daily open	40.7036

Trends
Daily SMA20	42.9278
Daily SMA50	59.8865
Daily SMA100	55.0361
Daily SMA200	56.0743

Levels
Previous Daily High	41.0418
Previous Daily Low	38.397
Previous Weekly High	43.9228
Previous Weekly Low	29.277
Previous Monthly High	84.4232
Previous Monthly Low	56.6073
Daily Fibonacci 38.2%	40.0315
Daily Fibonacci 61.8%	39.4073
Daily Pivot Point S1	39.0532
Daily Pivot Point S2	37.4027
Daily Pivot Point S3	36.4084
Daily Pivot Point R1	41.6979
Daily Pivot Point R2	42.6922
Daily Pivot Point R3	44.3426

Author

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.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.