Connect with us

Hi, what are you looking for?

ELEVENEWS

Litecoin

Litecoin Technical Analysis: LTC/USD is inside a daily symmetrical triangle waiting for a clear breakout

  • 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

LTCUSD

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

LTCUSD

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

LTC/USD

OVERVIEW
Today last price47.0886
Today Daily Change-0.0399
Today Daily Change %-0.08
Today daily open47.1285
TRENDS
Daily SMA2044.5469
Daily SMA5044.4987
Daily SMA10045.0096
Daily SMA20049.8418
LEVELS
Previous Daily High47.4441
Previous Daily Low45.2908
Previous Weekly High45.3078
Previous Weekly Low41.7519
Previous Monthly High50.0012
Previous Monthly Low39.3673
Daily Fibonacci 38.2%46.6215
Daily Fibonacci 61.8%46.1133
Daily Pivot Point S145.7981
Daily Pivot Point S244.4678
Daily Pivot Point S343.6448
Daily Pivot Point R147.9514
Daily Pivot Point R248.7744
Daily Pivot Point R350.1047

News Source

Advertisement

Copyright © 2020 Elevenews