Litecoin Price Analysis: Why LTC/USD reversal under $80 imminent?

Litecoin price endures the push by the sellers to afloat above $80 following the rejection from $80.
Litecoin remains in the bullish hands after the recent reversal embraced support at $78, the trendline and the 50 SMA.

Spot rate: $81.37

Relative change: 0.8663

Percentage change: 1%

Trend: Bullish (short term)

Volatility: Expanding

LTC/USD daily chart

Litecoin price is pushing for consolidation above $80. The ability to defend $80 will determine how fast the bulls can relaunch the attack towards $100. However, danger lurks in the ‘dark’ with the formation of a rising wedge pattern. If the resistance at $85 is not cleared, Litecoin’s potential for a reversal will remain high. This means that sellers could trim the accrued gains until LTC finds credible support at $60 if not $70.

LTC/USD 1-hour chart

Short term technical analysis shows Litecoin bulls taking over control from the bears. LTC is bouncing off the support provided by an ascending trendline in conjunction with the 50SMA. A short term resistance at $80 must come down for LTC to tackle higher levels at $85 and then trend towards $100.

XRP/USD

Overview
Today last price	0.3246
Today Daily Change	-0.0026
Today Daily Change %	-0.79
Today daily open	0.3272

Trends
Daily SMA20	0.2619
Daily SMA50	0.2324
Daily SMA100	0.2326
Daily SMA200	0.2556

Levels
Previous Daily High	0.3395
Previous Daily Low	0.2999
Previous Weekly High	0.2878
Previous Weekly Low	0.2356
Previous Monthly High	0.254
Previous Monthly Low	0.1846
Daily Fibonacci 38.2%	0.3244
Daily Fibonacci 61.8%	0.3151
Daily Pivot Point S1	0.3049
Daily Pivot Point S2	0.2826
Daily Pivot Point S3	0.2653
Daily Pivot Point R1	0.3445
Daily Pivot Point R2	0.3618
Daily Pivot Point R3	0.3841

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