16.2 C
7 October 2022
Image default

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


Today last price 47.2378
Today Daily Change 1.2187
Today Daily Change % 2.65
Today daily open 46.0191
Daily SMA20 44.3919
Daily SMA50 44.3806
Daily SMA100 45.2943
Daily SMA200 49.9008
Previous Daily High 49.9214
Previous Daily Low 44.5477
Previous Weekly High 45.3078
Previous Weekly Low 41.7519
Previous Monthly High 50.0012
Previous Monthly Low 39.3673
Daily Fibonacci 38.2% 46.6005
Daily Fibonacci 61.8% 47.8687
Daily Pivot Point S1 43.7374
Daily Pivot Point S2 41.4557
Daily Pivot Point S3 38.3637
Daily Pivot Point R1 49.1111
Daily Pivot Point R2 52.2031
Daily Pivot Point R3 54.4848

News Source

Related posts

Crypto Entrepreneur Predicts Bitcoin Price Could Hit $300,000 This Cycle


Bitcoin Indecisive Below $10,500 as Altcoins Continue to Suffer (Wednesday Market Watch)


Central Bank Of Bahrain Succeeds In JPM Cryptocurrency Payment Trial