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Litecoin

Litecoin technical analysis: LTC/USD falling wedge pattern hints breakout

  • Litecoin stays in range even as bears increase their grip across the board.
  • Litecoin is bearish in the short-term especially with the RSI grinding lower.

Spot rate: $54

Relative change: -0.8348

Percentage change: -1.52%

Open: $55.01

High: $55.01

Trend: Bearish

LTC/USD daily chart

Litecoin is grinding closer to a falling wedge pattern likely to correct the extended downtrend.

The zone at $50-53 becomes a viable support area capable of halting massive declines.

LTC/USD four-hour chart

The rectangle pattern formed suggests increasing bearish control and a possible fall towards $20.

Litecoin has a bearish bias in the short-term based on the Relative Strength Index (RSI).

LTC/USD one-hour chart

An ongoing retracement is likely to break the short-term trendline support.

The upside is limited by the 21 Simple Moving Average (SMA) while the downside is supported by the 50 SMA.

LTC/USD

OVERVIEW
Today last price54.2049
Today Daily Change-0.8010
Today Daily Change %-1.46
Today daily open55.0059
TRENDS
Daily SMA2055.8664
Daily SMA5062.6699
Daily SMA10074.3313
Daily SMA20087.9551
LEVELS
Previous Daily High55.6286
Previous Daily Low52.7454
Previous Weekly High57.8297
Previous Weekly Low51.1734
Previous Monthly High80.2956
Previous Monthly Low50.399
Daily Fibonacci 38.2%54.5272
Daily Fibonacci 61.8%53.8468
Daily Pivot Point S153.2913
Daily Pivot Point S251.5768
Daily Pivot Point S350.4082
Daily Pivot Point R156.1745
Daily Pivot Point R257.3431
Daily Pivot Point R359.0576

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sourde:coindesk

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