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.

Ken Chigbo Independent Analyst

Spot rate: 60.94

Relative change: -1.31%

High: 61.79

Low: 60.61

Trend: Bearish/Neutral

LTC/USD

Overview
Today last price	60.9083
Today Daily Change	-0.8903
Today Daily Change %	-1.44
Today daily open	61.7986

Trends
Daily SMA20	58.8505
Daily SMA50	50.9505
Daily SMA100	41.5544
Daily SMA200	44.413

Levels
Previous Daily High	62.107
Previous Daily Low	58.9246
Previous Weekly High	63.0977
Previous Weekly Low	57.6462
Previous Monthly High	53.9838
Previous Monthly Low	30.8359
Daily Fibonacci 38.2%	60.8913
Daily Fibonacci 61.8%	60.1403
Daily Pivot Point S1	59.7798
Daily Pivot Point S2	57.7611
Daily Pivot Point S3	56.5975
Daily Pivot Point R1	62.9622
Daily Pivot Point R2	64.1257
Daily Pivot Point R3	66.1445

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

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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