- LTC/USD is inside a symmetrical triangle on the daily chart awaiting a breakout to $50 and above.
- A break of the pattern would lead LTC towards $64, the next resistance level.
Litecoin is trading inside an evident symmetrical triangle formed in the past month and a half. LTC/USD recovered from the crash on June 2 after successfully defending both the daily 12-EMA and the 26-EMA.
LTC/USD daily chart
Bulls can find a clear resistance level at $49.92, the high set on June 2 before the massive rejection. Unfortunately, that’s not the only resistance point as Litecoin formed another high at $50.87 back on April 30. The daily RSI has cooled off and LTC continues trading above the 12-EMA and the 26-EMA on the daily chart. The nearest and most important support level is the low on June 2, at $44.54, marked with the green horizontal line.
LTC/USD 4-hour chart
The 4-hour chart shows another line of resistance at $48.08, formed on May 30 and a support level at $46.30. Bulls have done a great job of defending the 12-EMA and the 26-EMA here as well. A clear loss of these two EMAs could indicate a shift in momentum favoring the bears.
LTC/USD technical levels
|Today last price||47.0886|
|Today Daily Change||-0.0399|
|Today Daily Change %||-0.08|
|Today daily open||47.1285|
|Previous Daily High||47.4441|
|Previous Daily Low||45.2908|
|Previous Weekly High||45.3078|
|Previous Weekly Low||41.7519|
|Previous Monthly High||50.0012|
|Previous Monthly Low||39.3673|
|Daily Fibonacci 38.2%||46.6215|
|Daily Fibonacci 61.8%||46.1133|
|Daily Pivot Point S1||45.7981|
|Daily Pivot Point S2||44.4678|
|Daily Pivot Point S3||43.6448|
|Daily Pivot Point R1||47.9514|
|Daily Pivot Point R2||48.7744|
|Daily Pivot Point R3||50.1047|