Litecoin Technical Analysis: LTC/USD lagging behind major cryptos

Litecoin has been trading sideways for a lot longer than the majority of cryptos.
There hasn’t been a clear bull break for Litecoin since April 30.
LTC/USD is in a daily parallel channel.

Litecoin is basically trading inside a daily parallel channel that is going nowhere. Since April 25, Litecoin has been trading between $41 and $50 and has touched the $50 mark on five different occasions but with no continuation. Similarly, the area around $41-40 has served as support numerous times.

LTC/USD daily chart

Today Litecoin held $41.75 again and is seeing a decent recovery following some of the major cryptos. The most important resistance level is still at $50 and bulls need to prove themselves by breaking it convincingly with a lot of continuation.

Unfortunately, the daily EMAs have crossed bearishly and Litecoin is still far away from the 12-EMA at $45.

LTC/USD 4-hour chart

There is a clear bounce underway but the 4-hour downtrend is still in play and Litecoin is currently getting rejected from the 12-EMA at $43.72. Bulls need to climb above the 12-EMA and the 26-EMA and set a higher low followed by a higher high in order to change the downtrend.

LTC/USD technical levels

LTC/USD

Overview
Today last price	43.7058
Today Daily Change	-0.3106
Today Daily Change %	-0.71
Today daily open	44.0164

Trends
Daily SMA20	45.6952
Daily SMA50	45.2656
Daily SMA100	43.2737
Daily SMA200	49.563

Levels
Previous Daily High	45.0949
Previous Daily Low	43.5492
Previous Weekly High	47.1719
Previous Weekly Low	41.452
Previous Monthly High	50.0012
Previous Monthly Low	39.3673
Daily Fibonacci 38.2%	44.1396
Daily Fibonacci 61.8%	44.5044
Daily Pivot Point S1	43.3454
Daily Pivot Point S2	42.6744
Daily Pivot Point S3	41.7996
Daily Pivot Point R1	44.8911
Daily Pivot Point R2	45.7659
Daily Pivot Point R3	46.4369

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