Litecoin Price Forecast: LTC/USD set for big $50 return

Litecoin price is trading in positive territory by 2.20 % in the session on Tuesday.
LTC/USD bulls have further capitalized after breaking down the $40 mark.
The next major target to tackle will be the $50, a breakout and closure above is key.

Ken Chigbo Independent Analyst

LTC/USD daily chart

The price is enjoying a strong run to the upside, voiding a bearish ascending wedge structure.

LTC/USD 60-minute chart

Near-term price action is moving within a range-bound nature, following a bull pennant breakout.

Spot rate: 46.15

Relative change: +2.20%

High: 47.65

Low: 44.88

LTC/USD

Overview
Today last price	46.1628
Today Daily Change	1.0474
Today Daily Change %	2.32
Today daily open	45.1154

Trends
Daily SMA20	39.201
Daily SMA50	50.47
Daily SMA100	54.9756
Daily SMA200	54.1674

Levels
Previous Daily High	45.1389
Previous Daily Low	40.3712
Previous Weekly High	43.0368
Previous Weekly Low	37.0298
Previous Monthly High	63.9927
Previous Monthly Low	24.9467
Daily Fibonacci 38.2%	43.3176
Daily Fibonacci 61.8%	42.1925
Daily Pivot Point S1	41.9448
Daily Pivot Point S2	38.7742
Daily Pivot Point S3	37.1772
Daily Pivot Point R1	46.7124
Daily Pivot Point R2	48.3094
Daily Pivot Point R3	51.48

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.

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