Litecoin Technical Analysis: LTC/USD gets some hope after a 1.7% surge to $42

LTC/USD is trading inside a daily downtrend below important EMAs
Litecoin is facing a lot of resistance towards $50.

Lorenzo Stroe Independent Analyst

Litecoin is currently under a lot of selling pressure, the small bullish breakout from Bitcoin is helping Litecoin but it’s certainly not enough. The daily downtrend is still here and bulls will need a lot of strength to reverse the trend.

LTC/USD daily chart

Even with this 1.7% move to $42, Litecoin still needs to crack $42.04, the high on June 30 and $42.23, the high on June 29. Buyers are also facing the 12-EMA resistance level established at $42.38 followed by the 26-EMA at $43.27. There is more resistance around $43.54 and $44 psychological level.

Unfortunately, when it comes to support levels, Litecoin doesn’t have many besides the low of June 27 at $39.44 and $38 from April 16.

LTC/USD technical levels

LTC/USD

Overview
Today last price	41.8718
Today Daily Change	0.6851
Today Daily Change %	1.66
Today daily open	41.1867

Trends
Daily SMA20	43.1688
Daily SMA50	44.211
Daily SMA100	43.6044
Daily SMA200	49.3554

Levels
Previous Daily High	42.0496
Previous Daily Low	40.7456
Previous Weekly High	44.6516
Previous Weekly Low	41.3218
Previous Monthly High	49.9214
Previous Monthly Low	39.4455
Daily Fibonacci 38.2%	41.2437
Daily Fibonacci 61.8%	41.5515
Daily Pivot Point S1	40.605
Daily Pivot Point S2	40.0233
Daily Pivot Point S3	39.301
Daily Pivot Point R1	41.909
Daily Pivot Point R2	42.6313
Daily Pivot Point R3	43.2131

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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