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Litecoin presents an interesting setup After finding its low at $40.32 in June 2022, Litecoin rose over 160% within the span of a half-year. However, since the February 2023 high at $105.69, Litecoin’s price trend has been erratic. Litecoin has been oscillating between the two converging bounds, forming an interesting setup that caught our attention. For now, we would like to stay out of the market and observe the situation. Ideally, we would like to wait for the price to approach one of the boundaries of the formation and then assess the opportunity. Illustration 1.01 Illustration 1.01 displays the daily chart of LTCUSD. Two converging lines can be seen forming a pattern that resembles a symmetrical triangle. Technical analysis gauge Daily time frame = Neutral Weekly time frame = Slightly bearish *The gauge does not necessarily indicate where the market will head. Instead, it reflects the constellation of RSI, MACD, Stochastic, DM+-, ADX, and moving averages. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
COINBASE:LTCUSD
by Tradersweekly
13
Here's why $LTC is about to #PUMP!This technical analysis was conducted to help you understand how Litecoin is headed for extreme highs. After an indecisive period of consolidation that followed a 2018/2019 bear market, LTC soared for months right up to a few dollars shy of it's previous all-time-high (ATH) back in 2017. We can see LTC pumped 800%, meanwhile BTC 362%. The only reason why the ATH wasn't broken, was based on Elon's influential tweets we're all aware of, that essentially crashed the entire crypto market by 50% price wise. Lets talk numerical impact; - As you can see on my chart LTC dropped 75%, the highest dump of all top 10 recognized cryptocurrencies worldwide. Dissimilarly, yet in the same timeframe, BTC dropped 51%. - After that independently influenced micro bull market, to this day LTC has pumped 157% as opposed to BTC at 126%. From these percentages, it is obvious that when LTC is bullish it pumps to extreme heights. However when it's bearish it takes a big hit. BTC has more stable shifts in momentum, but it's worth noting that LTC was so close to an ATH well before BTC got even remotely close. Now that BTC has reached a fresh ATH ($69,000), there's absolutely no reason why LTC can't do the same ($420+). The reason why I'm confident that LTC will grow beyond the ATH region though, is based on the fact that the resistance line has been tested TWICE now, which weakens this trend line and strengthens the support line simultaneously. Keep in mind the supply limit of LTC is 4 times that of BTC, and the price difference of LTC is NOWHERE NEAR a quarter of BTC (yet). It's still regarded as cheap, even though it's the second most accessible cryptocurrency via physical ATMs.
FTX:LTCUSD
by MikeyFergus
8
ridethepig | LTC Market Commentary 2020.02.12LTC will continue to reduce liquidity. Not sure how effective that is going to be at containing this environment though. A move towards 93 is a matter of when rather than if. Happy to sit in LTCUSD longs for now, the move is unstoppable at the moment. If BTC and cryptos can have a strong couple of days, spot could easily touch 90 this week. Stay long Litecoin. I really think any move lower is unjustified and the strong liquidity injection will see LTCUSD a lot higher once we clear the coronavirus flows. Don't forget to keep the likes, charts and comments coming!
COINBASE:LTCUSDLong
by ridethepig
BTCUSD 4H LONG On the 4 hour chart, Bitcoin looks to have completed an Elliot Wave Cycle. After completion of a corrective ABC pattern at a significant .618 retracement level of the initial impulse wave (1-2-3-4-5), the price broke through a long term S/R trend line. (see red trend line) With the RSI > 50, and significant resistance ahead (see blue rectangle zone of S/R), a 1st test rejection could make way for a possible inverse head and shoulders formation, making a bullish case for Bitcoin moving forward.
COINBASE:BTCUSDLong
by UnknownUnicorn924366
4