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Litecoin Technical Analysis: LTC/USD completing a breakout and retest of bullish structure

  • Litecoin price on Thursday trading down with losses of some 1.15% in the latter part of the session.
  • LTC/USD price action Iis currently retesting a breached bullish flag/pennant structure. 
  • Should the upper part of the flag/pennant hold its course, then further buying pressure may be in store for Litecoin. 
Litecoin Technical Analysis: LTC/USD completing a breakout and retest of bullish structure
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                 60.94

Relative change:      -1.31%

High:                        61.79

Low:                         60.61

Trend:                       Bearish/Neutral

LTC/USD

Overview
Today last price60.9083
Today Daily Change-0.8903
Today Daily Change %-1.44
Today daily open61.7986
 
Trends
Daily SMA2058.8505
Daily SMA5050.9505
Daily SMA10041.5544
Daily SMA20044.413
 
Levels
Previous Daily High62.107
Previous Daily Low58.9246
Previous Weekly High63.0977
Previous Weekly Low57.6462
Previous Monthly High53.9838
Previous Monthly Low30.8359
Daily Fibonacci 38.2%60.8913
Daily Fibonacci 61.8%60.1403
Daily Pivot Point S159.7798
Daily Pivot Point S257.7611
Daily Pivot Point S356.5975
Daily Pivot Point R162.9622
Daily Pivot Point R264.1257
Daily Pivot Point R366.1445

LTC/USD 60-minute chart

  • Near-term buying protecting the price from falling back down below the $60 mark.

LTC/USD daily chart

  • Price is set for a retest, completing a breakout and retest of the bullish flag/pennant structure.

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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