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Litecoin

Litecoin Price Analysis: LTC/USD needs to take out the 50.00 resistance zone

  • Litecoin is trading just over 2.5% higher on Wednesday.
  • There is a huge resistance level above current levels noted on the chart below. 

LTC/USD daily chart

Litecoin has been performing well on Wednesday after the crypto capitulation on Tuesday. On the daily chart below there is a huge confluence level at the 50.00 level.

At the aforementioned level, there is a psychological resistance, historical support, the Fibonacci 38.2% retracement and the 200 Simple Moving Average (SMA). The candle yesterday (Tuesday) looks like it rejected the zone as the highest price point of the day was 49.90. 

Looking at the indicators, the Relative Strength Index is languishing just above the 50 zone but there is a clear lack of direction. The MACD histogram is positive just above the midline and the signal lines are also above the zero line, this is also positive. On the downside a break of 41.79 would be the confirmation of the berish move so keep an eye there.

Litecoin 50.00 level

Additional levels

LTC/USD

OVERVIEW
Today last price47.2378
Today Daily Change1.2187
Today Daily Change %2.65
Today daily open46.0191
TRENDS
Daily SMA2044.3919
Daily SMA5044.3806
Daily SMA10045.2943
Daily SMA20049.9008
LEVELS
Previous Daily High49.9214
Previous Daily Low44.5477
Previous Weekly High45.3078
Previous Weekly Low41.7519
Previous Monthly High50.0012
Previous Monthly Low39.3673
Daily Fibonacci 38.2%46.6005
Daily Fibonacci 61.8%47.8687
Daily Pivot Point S143.7374
Daily Pivot Point S241.4557
Daily Pivot Point S338.3637
Daily Pivot Point R149.1111
Daily Pivot Point R252.2031
Daily Pivot Point R354.4848

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