Breaking News / Bitcoin Cash / Analytics / Litecoin
Litecoin (LTC/USD) gained ground early in today’s Asian session as the pair escalated to the 56.12 area after trading as low as the 54.10 area during yesterday’s European session. Traders continue to have their eyes on the 59.84 level, representing the 38.2% retracement of the 80.26 – 47.22 range and an area that traders tested earlier this week. That level is also right around another important technical level that represents the 38.2% retracement of the more recent 66.19 – 56.09 range. The pair’s recent spin lower opens up potential downside targets such as the 54.47 and 51.70 areas, representing the 61.8% and 76.4% retracements of the same range.
Regarding LTC/USD’s recent range expansion, the 47.13 area represents possible technical Support and the 23.6% retracement of the 127.95 – 22.17 range. The pair’s next upside price objective related to this range is the 62.58 area, an area the pair tested on 11 November. Another very important technical range that LTC/USD traders are watching is the move from the 182.35 – 22.17 area. The 59.97 area represents the 23.6% retracement of this range, and the 83.36 area is the 38.2% retracement of this range. Additionally, the 192.89 – 22.17 range is another important one, and the 62.46 area represents the 23.6% retracement of this range.
Price activity is nearest the 200-bar MA (4-hourly) at 57.91 and the 50-bar MA (Hourly) at 56.28.
Technical Support is expected around 52.15/ 50.25/ 47.13 with Stops expected below.
Technical Resistance is expected around 64.40/ 69.47/ 75.06 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart,