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LTC/USD weakens after hitting 3.99, bullishness only above 4.05

LTC/USD hit a fresh high of 3.99 levels on Thursday before closing at 3.88 levels. It is currently trading at 3.87 levels at the time of writing (BTC-e).

Ichimoku analysis of daily chart:

Tenkan Sen: 3.87

Kijun Sen: 3.84

Trend reversal: 3.86 (90 EMA)

“The pair is trading below 200-day MA, but seems to have found support near 3.85 (100-day MA). Further bullishness would be seen only if the pair closes above 200-day MA, which would see it testing 4.05 levels”, FxWirePro said in a statement.

The pair faces major resistance at 3.91 (200-day MA) and a break above would target 3.99 (October 13 high)/4.05 (September 08 high).

On the downside, the pair has taken support near 3.85 levels (100-day MA) and a break below would target 3.75 levels/3.70 (September 22 low)/3.50 (psychological level).

Litecoin has completed five years of existence and to commemorate the occasion Litecoin creator Charlie Lee announced that users can now reserve the limited edition Ledger Nano S:


The Litecoin Association has released a video that provides an overview of the Anniversary Ledger Nano S:

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