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Litecoin Technical Analysis: LTC/USD breaching critical ascending trend line of support

  • Litecoin price on Wednesday is trading in negative territory, nursing losses over 2%. 
  • LTC/USD price action via the daily is breaching a key near-term ascending trend line.
  • 15-minute chart view shows a bearish pennant structure, inviting further potential selling. 
Litecoin Technical Analysis: LTC/USD breaching critical ascending trend line of support
Ken ChigboKen ChigboIndependent Analyst

Spot rate:                  74.11

Relative change:      -2.25%

High:                         79.51

Low:                          72.29

LTC/USD

Overview
Today last price74.1028
Today Daily Change-0.7915
Today Daily Change %-1.06
Today daily open74.8943
 
Trends
Daily SMA2075.454
Daily SMA5074.0218
Daily SMA10060
Daily SMA20048.6036
Levels
Previous Daily High79.5184
Previous Daily Low74.4704
Previous Weekly High81.3432
Previous Weekly Low66.0294
Previous Monthly High99.4789
Previous Monthly Low60.3565
Daily Fibonacci 38.2%76.3988
Daily Fibonacci 61.8%77.5901
Daily Pivot Point S173.0703
Daily Pivot Point S271.2464
Daily Pivot Point S368.0223
Daily Pivot Point R178.1184
Daily Pivot Point R281.3424
Daily Pivot Point R383.1664

LTC/USD 15-minute chart

  • Near-term bearish pennant can be eyed via the 15-minute chart view, subject to a potential breakout south. 

LTC/USD daily chart

  • Price action via the daily is breaking out to the downside from a critical ascending supporting trend line. 

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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