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Litecoin Technical Analysis: LTC/USD bears are back in full control

  • Litecoin price is trading in the green in the session by some 3.15%. 
  • LTC/USD is on its way to the next major area of support down at $20. 
  • Rallies continue to be sold given the stubborn bearish trend of which Litecoin remains within. 
Litecoin Technical Analysis: LTC/USD bears are back in full control
Ken ChigboKen ChigboIndependent Analyst

LTC/USD weekly chart

Price action is running at its sixth consecutive week in the red, a lack of signage this will change anytime soon. 

LTC/USD daily chart

Earlier in the week, LTC/USD smashed out from a bearish pennant structure, a retest was eyed, however, it may have just fallen short, with the selling resuming.

Spot rate:                  39.56

Relative change:      -3.20%

High:                          41.16

Low:                           39.15

LTC/USD

Overview
Today last price39.6055
Today Daily Change-1.2697
Today Daily Change %-3.11
Today daily open40.8752
 
Trends
Daily SMA2044.2843
Daily SMA5051.6226
Daily SMA10056.3165
Daily SMA20078.5267
 
Levels
Previous Daily High41.6951
Previous Daily Low35.9836
Previous Weekly High46.3719
Previous Weekly Low42.8434
Previous Monthly High66.2492
Previous Monthly Low42.351
Daily Fibonacci 38.2%39.5133
Daily Fibonacci 61.8%38.1654
Daily Pivot Point S137.3408
Daily Pivot Point S233.8064
Daily Pivot Point S331.6293
Daily Pivot Point R143.0524
Daily Pivot Point R245.2295
Daily Pivot Point R348.7639

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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