Litecoin technical analysis: Bulls consolidate the recovery above 61.8% Fib level
11/9/2019 5:41:18 AM
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The fifth most widely traded cryptocurrency, Litecoin, consolidates the recovery from four-day lows of 58.78 on Saturday’s early European trading, tra

  • Saturday’s recovery drives the bulls to regain the 61.8% Fib level.
  • Coin awaits fresh catalysts for the recovery to gain further momentum.
  • Saturday’s recovery drives the bulls to regain the 61.8% Fib level.
  • Saturday’s recovery drives the bulls to regain the 61.8% Fib level.
  • Coin awaits fresh catalysts for the recovery to gain further momentum.
  • Coin awaits fresh catalysts for the recovery to gain further momentum.

    The fifth most widely traded cryptocurrency, Litecoin, consolidates the recovery from four-day lows of 58.78 in Saturday’s early European trading, tracking the rebound seen across the crypto space. Although the price has regained the 61 handle, the bulls need some fresh trading impetus to recover further towards last week’s highs at 64.32. Meanwhile, the coin loses over 1.50% in the last 24 hours., representing a market capitalization of $ 3.89B, or 1.62% of the total cryptocurrency market cap. 

    Litecoincryptocurrency

    LTC/USD, 1-hour chart

     

    • The coin consolidates above 61.8% Fibonacci Retracement (Fib) of the latest decline.
    • Hourly Relative Strength Index (RSI) steadies in the overbought territory, suggesting that the recovery could be losing momentum
    • Horizontal hourly 100-Simple Moving Average (HMA) at 62.15 is the level to defend for the bulls.
    • The bearish trend to resume should the price breach the key support (confluence) zone circa 60.50.
  • The coin consolidates above 61.8% Fibonacci Retracement (Fib) of the latest decline.
  • Hourly Relative Strength Index (RSI) steadies in the overbought territory, suggesting that the recovery could be losing momentum
  • Horizontal hourly 100-Simple Moving Average (HMA) at 62.15 is the level to defend for the bulls.
  • The bearish trend to resume should the price breach the key support (confluence) zone circa 60.50.
  •  

    LTC/USD daily chart

     

    • Comfortable in a rising wedge, awaits fresh catalyst for a sustained breakout.
    • The spot is currently trapped between bearish 100-Daily Moving Average (DMA) at 66.70 and 58 (confluence of 21 and 50-DMA).
    • Daily Relative Strength Index (RSI) is pointing upwards towards the 50 level, indicating further upside room.
    • Bulls need to take out the stiff resistances around 64.30 to strengthen the recovery.
  • Comfortable in a rising wedge, awaits fresh catalyst for a sustained breakout.
  • The spot is currently trapped between bearish 100-Daily Moving Average (DMA) at 66.70 and 58 (confluence of 21 and 50-DMA).
  • Daily Relative Strength Index (RSI) is pointing upwards towards the 50 level, indicating further upside room.
  • Bulls need to take out the stiff resistances around 64.30 to strengthen the recovery.
  •  

    LTC/USD Levels to watch

    LTC/USD

    Overview
    Today last price 61.34
    Today Daily Change 1.2142
    Today Daily Change % 2.01
    Today daily open 60.3807
     
    Trends
    Daily SMA20 57.8337
    Daily SMA50 58.3291
    Daily SMA100 67.5196
    Daily SMA200 85.4992
     
    Levels
    Previous Daily High 62.4293
    Previous Daily Low 58.7843
    Previous Weekly High 64.3264
    Previous Weekly Low 57.3543
    Previous Monthly High 64.1049
    Previous Monthly Low 47.2078
    Daily Fibonacci 38.2% 60.1767
    Daily Fibonacci 61.8% 61.0369
    Daily Pivot Point S1 58.6336
    Daily Pivot Point S2 56.8865
    Daily Pivot Point S3 54.9886
    Daily Pivot Point R1 62.2786
    Daily Pivot Point R2 64.1765
    Daily Pivot Point R3 65.9236

     

    LTC/USD

    Overview
    Today last price 61.34
    Today Daily Change 1.2142
    Today Daily Change % 2.01
    Today daily open 60.3807
     
    Trends
    Daily SMA20 57.8337
    Daily SMA50 58.3291
    Daily SMA100 67.5196
    Daily SMA200 85.4992
     
    Levels
    Previous Daily High 62.4293
    Previous Daily Low 58.7843
    Previous Weekly High 64.3264
    Previous Weekly Low 57.3543
    Previous Monthly High 64.1049
    Previous Monthly Low 47.2078
    Daily Fibonacci 38.2% 60.1767
    Daily Fibonacci 61.8% 61.0369
    Daily Pivot Point S1 58.6336
    Daily Pivot Point S2 56.8865
    Daily Pivot Point S3 54.9886
    Daily Pivot Point R1 62.2786
    Daily Pivot Point R2 64.1765
    Daily Pivot Point R3 65.9236

    LTC/USD

    Overview
    Today last price 61.34
    Today Daily Change 1.2142
    Today Daily Change % 2.01
    Today daily open 60.3807
     
    Trends
    Daily SMA20 57.8337
    Daily SMA50 58.3291
    Daily SMA100 67.5196
    Daily SMA200 85.4992
     
    Levels
    Previous Daily High 62.4293
    Previous Daily Low 58.7843
    Previous Weekly High 64.3264
    Previous Weekly Low 57.3543
    Previous Monthly High 64.1049
    Previous Monthly Low 47.2078
    Daily Fibonacci 38.2% 60.1767
    Daily Fibonacci 61.8% 61.0369
    Daily Pivot Point S1 58.6336
    Daily Pivot Point S2 56.8865
    Daily Pivot Point S3 54.9886
    Daily Pivot Point R1 62.2786
    Daily Pivot Point R2 64.1765
    Daily Pivot Point R3 65.9236

    LTC/USD

    Overview
    Today last price 61.34
    Today Daily Change 1.2142
    Today Daily Change % 2.01
    Today daily open 60.3807
     
    Trends
    Daily SMA20 57.8337
    Daily SMA50 58.3291
    Daily SMA100 67.5196
    Daily SMA200 85.4992
     
    Overview
    Today last price 61.34
    Today Daily Change 1.2142
    Today Daily Change % 2.01
    Today daily open 60.3807
    Overview Overview Overview Today last price 61.34 Today Daily Change 1.2142 Today Daily Change % 2.01 Today daily open 60.3807 Today last price 61.34 Today last price61.3461.34 Today Daily Change 1.2142 Today Daily Change1.21421.2142 Today Daily Change % 2.01 Today Daily Change %2.012.01 Today daily open 60.3807 Today daily open60.380760.3807
     
    Trends
    Daily SMA20 57.8337
    Daily SMA50 58.3291
    Daily SMA100 67.5196
    Daily SMA200 85.4992
    Trends Trends Trends Daily SMA20 57.8337 Daily SMA50 58.3291 Daily SMA100 67.5196 Daily SMA200 85.4992 Daily SMA20 57.8337 Daily SMA2057.833757.8337 Daily SMA50 58.3291 Daily SMA5058.329158.3291 Daily SMA100 67.5196 Daily SMA10067.519667.5196 Daily SMA200 85.4992 Daily SMA20085.499285.4992
     
    Levels
    Previous Daily High 62.4293
    Previous Daily Low 58.7843
    Previous Weekly High 64.3264
    Previous Weekly Low 57.3543
    Previous Monthly High 64.1049
    Previous Monthly Low 47.2078
    Daily Fibonacci 38.2% 60.1767
    Daily Fibonacci 61.8% 61.0369
    Daily Pivot Point S1 58.6336
    Daily Pivot Point S2 56.8865
    Daily Pivot Point S3 54.9886
    Daily Pivot Point R1 62.2786
    Daily Pivot Point R2 64.1765
    Daily Pivot Point R3 65.9236
    Levels
    Previous Daily High 62.4293
    Previous Daily Low 58.7843
    Previous Weekly High 64.3264
    Previous Weekly Low 57.3543
    Previous Monthly High 64.1049
    Previous Monthly Low 47.2078
    Daily Fibonacci 38.2% 60.1767
    Daily Fibonacci 61.8% 61.0369
    Daily Pivot Point S1 58.6336
    Daily Pivot Point S2 56.8865
    Daily Pivot Point S3 54.9886
    Daily Pivot Point R1 62.2786
    Daily Pivot Point R2 64.1765
    Daily Pivot Point R3 65.9236
    Levels Levels Levels Previous Daily High 62.4293 Previous Daily Low 58.7843 Previous Weekly High 64.3264 Previous Weekly Low 57.3543 Previous Monthly High 64.1049 Previous Monthly Low 47.2078 Daily Fibonacci 38.2% 60.1767 Daily Fibonacci 61.8% 61.0369 Daily Pivot Point S1 58.6336 Daily Pivot Point S2 56.8865 Daily Pivot Point S3 54.9886 Daily Pivot Point R1 62.2786 Daily Pivot Point R2 64.1765 Daily Pivot Point R3 65.9236 Previous Daily High 62.4293 Previous Daily High62.429362.4293 Previous Daily Low 58.7843 Previous Daily Low58.784358.7843 Previous Weekly High 64.3264 Previous Weekly High64.326464.3264 Previous Weekly Low 57.3543 Previous Weekly Low57.354357.3543 Previous Monthly High 64.1049 Previous Monthly High64.104964.1049 Previous Monthly Low 47.2078 Previous Monthly Low47.207847.2078 Daily Fibonacci 38.2% 60.1767 Daily Fibonacci 38.2%60.176760.1767 Daily Fibonacci 61.8% 61.0369 Daily Fibonacci 61.8%61.036961.0369 Daily Pivot Point S1 58.6336 Daily Pivot Point S158.633658.6336 Daily Pivot Point S2 56.8865 Daily Pivot Point S256.886556.8865 Daily Pivot Point S3 54.9886 Daily Pivot Point S354.988654.9886 Daily Pivot Point R1 62.2786 Daily Pivot Point R162.278662.2786 Daily Pivot Point R2 64.1765 Daily Pivot Point R264.176564.1765 Daily Pivot Point R3 65.9236 Daily Pivot Point R365.923665.9236