Litecoin Price Forecast: LTC/USD loses steam short of $60.00

Litecoin price bullish case to $60.00 hits a wall at $56.00.
Litecoin enjoys multiple support areas above $50.00 which raise hope for a breakout past the $56.00 hurdle.

Litecoin price is settling above $50.00 after the recent breakout stalled at $56.00. Generally, the market is taking a step back after recording gains for two consecutive days. LTC/USD bounced off ascending trendline support. This gave the bulls the momentum to overcome the resistance at the 50-day SMA as well as the 200-day SMA.

As mentioned, action towards $60.00 lost steam at $56.00. Meanwhile, LTC/USD retreated to $52.82 (prevailing market value). Technically, buyers still have the upper hand as per the trend observed using the RSI and the MACD indicators. However, they lack the energy to push the cryptocurrency farther up.

LTC/USD daily chart

Litecoin confluence resistance and support areas

Resistance one: $52.90 – A subtle resistance highlighted by the previous low 4-hour.

Resistance two: $54.08 – The strongest resistance zone hosting the pivot point one-month resistance two.

Support one: $52.46 – A subtle buyer congestion zone highlighted by the Bollinger Band 1-hour middle.

Support two: $52.17 – Home to the previous low 15-minutes.

More LTC/USD levels

LTC/USD

Overview
Today last price	52.782
Today Daily Change	-0.5708
Today Daily Change %	-1.07
Today daily open	53.3528

Trends
Daily SMA20	44.6726
Daily SMA50	43.887
Daily SMA100	44.362
Daily SMA200	49.6597

Levels
Previous Daily High	56.0346
Previous Daily Low	46.9343
Previous Weekly High	45.7139
Previous Weekly Low	41.442
Previous Monthly High	49.9214
Previous Monthly Low	39.4455
Daily Fibonacci 38.2%	52.5583
Daily Fibonacci 61.8%	50.4106
Daily Pivot Point S1	48.1798
Daily Pivot Point S2	43.0069
Daily Pivot Point S3	39.0795
Daily Pivot Point R1	57.2802
Daily Pivot Point R2	61.2076
Daily Pivot Point R3	66.3805

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