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Litecoin Price Forecast: LTC/USD failure to regain $50 has proven to be punishing

  • Litecoin price is trading in negative territory by 0.30 % in the session on Monday. 
  • LTC/USD has lost upside momentum over the last five sessions. 
  • The bulls failed to break down the supply in a run into the $50 mark, inviting more downside pressure. 
Litecoin Price Forecast: LTC/USD failure to regain $50 has proven to be punishing
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Last week’s candlestick closure produced an evening star, which could be followed up by a week of selling. 

LTC/USD daily chart

The price has broken out to the downside from a bearish flag structure, leaving the door open to greater moves south. 

Spot rate:               40.33

Relative change:  -4.35%

High:                      42.03

Low:                       39.56

LTC/USD

Overview
Today last price40.3876
Today Daily Change-1.6536
Today Daily Change %-3.93
Today daily open42.0412
 
Trends
Daily SMA2041.1878
Daily SMA5046.9772
Daily SMA10055.1259
Daily SMA20053.2426
 
Levels
Previous Daily High43.7271
Previous Daily Low41.9109
Previous Weekly High47.6578
Previous Weekly Low39.9638
Previous Monthly High63.9927
Previous Monthly Low24.9467
Daily Fibonacci 38.2%42.6047
Daily Fibonacci 61.8%43.0333
Daily Pivot Point S141.3924
Daily Pivot Point S240.7435
Daily Pivot Point S339.5762
Daily Pivot Point R143.2086
Daily Pivot Point R244.376
Daily Pivot Point R345.0248

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.

More from Ken Chigbo
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