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Litecoin

Litecoin Price Analysis: LTC/USD trading sideways and looking to crack $50

  • LTC/USD has been trading sideways for the past week.
  • The resistance level at $50 remains as the most critical level to beat.
  • A clear break of $50 could take LTC up to $60. 

Litecoin is having a hard time deciding which direction to take. The digital asset couldn’t break $48 yesterday, June 4, and was rejected today as well. More importantly, bulls need to climb above $50 convincingly. 

LTC/USD trading volume has been declining over the past week indicating that a significant move is on the way. LTC has dipped below the 12-EMA and the 26-EMA on the daily chart but has never closed below any of them. This indicates that bulls have more strength than bears and are willing to buy the dips. 

Let’s look at some of the most important levels to beat and defend for LTC traders.

In the short-term, bulls are facing a mighty resistance level at $47.46 where the SMA50 (15-minutes), Fibonacci 38.2% (Daily), SMA10 (1-hour), middle Bollinger Band (1-hour) and the Pivot Point R2 (Weekly) are all converging. 

There is also some resistance at $47.70 where the Upper Bollinger Band (15-minutes) and the Fibonacci 23.6% (Daily) are standing. 

For support, bulls can look for the $47, psychological support level where the Fibonacci 61.8% (Daily) and the Lower Bollinger Band (1-hour) are uniting.

LTCUSD

Confluence Detector

The Confluence Detector finds exciting opportunities using Technical Confluences. The TC is a tool to locate and point out those price levels where there is a congestion of indicators, moving averages, Fibonacci levels, Pivot Points, etc. Knowing where these congestion points are located is very useful for the trader, and can be used as a basis for different strategies.

This tool assigns a certain amount of “weight” to each indicator, and this “weight” can influence adjacents price levels. These weightings mean that one price level without any indicator or moving average but under the influence of two “strongly weighted” levels accumulate more resistance than their neighbors. In these cases, the tool signals resistance in apparently empty areas.

Learn more about Technical Confluence

LTC/USD technical levels

LTC/USD

OVERVIEW
Today last price47.1318
Today Daily Change-0.3257
Today Daily Change %-0.69
Today daily open47.4575
TRENDS
Daily SMA2044.7841
Daily SMA5044.6618
Daily SMA10044.7746
Daily SMA20049.7876
LEVELS
Previous Daily High48.0794
Previous Daily Low46.3095
Previous Weekly High45.3078
Previous Weekly Low41.7519
Previous Monthly High50.0012
Previous Monthly Low39.3673
Daily Fibonacci 38.2%47.4033
Daily Fibonacci 61.8%46.9856
Daily Pivot Point S146.4849
Daily Pivot Point S245.5123
Daily Pivot Point S344.7151
Daily Pivot Point R148.2548
Daily Pivot Point R249.052
Daily Pivot Point R350.0246
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