Litecoin RangingLitecoin more often known as the silver to Bitcoin's gold has surged by more than 100% since its drop on March 12 , 2020.
Litecoin is trading at the consolidation marketplace in its Medium-term perspective as we could see from the daily chart. The pressure from the bears in the service in $45.79 on the 5th June is currently fixed today, by the bulls.
The response from the bulls pushes the cost up to around $47.32 in the resistance area.
LTCUSD is in trading and consolidation between $84.80 in the upper resistance region and at $24.53 at the decrease support region of the range. A breakout in the top supply area or breakdown in the lower place accompanied by a retest may occur hence patience is required to allow this to occur before a position is required.
Staying above $44.80 can lead to strong growth for LTCUSD.
• Overall market sentiment regarding the coin remains bullish.
LTC/USD Medium-term Trend: Ranging
• Resistance Levels : $70, $80, $90
• Support Levels: $20, $10, $5
Litecoinusd
LTCUSD - 55% short opportunityLooking at Litecoin's all time high vs point of control (price range with most traded volume) we may be starting to see what we've been a part of for the past 4 months.
Look at those perfect support/resistance lines lining up with the fib levels.
Given the weak rally we're seeing on Litecoin at the moment I think we've got a delicious shorting opportunity here.
Litecoin/Bitcoin Potential Major Bottom (LTC)This is the double bottom I mentioned in the last post as you can see it settling on the red support and green support.
Overall the btc pair looks really good.
My main confirmation is when I start to see the 3day and weekly start to show signs of green for a long term hold.
I wouldn't blame you if you got very aggressive around here for a long term hold.
Just need to see that trend change and support hold as we approach it.
Have an awesome day!
Litecoin Playing Games. (LTC)The best buy signal will be when we break the downward green Resistance. That's where we get interested for long term as the weekly is starting to show a turnaround to the upside but still very early and not green yet.
We cracked the red upward support and now have bounced into an area where Resistance sits from old support.
Has wiggle room to go around 54$ but it would have to move along the Resistance to get there.
If all S&R holds it might be possible to see a drop to the $23-$25 previous low level.
If you pull up ltcbtc you will notice that we have a potential double bottom but currently formed under Resistance.
I say place buy limit in mid 20s in case of a drop. See if we can build some accumulation
Will update on the weekly close as btc pair approaches this double bottom on btc pair
Not aggressive on this one just yet.
Let it breathe.
Have an awesome day!
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Litecoin: Parabolic Support Analysis 1H (Apr. 23)X FORCE GLOBAL ANALYSIS:
Litecoin has been showing a very steady price move lately. In this analysis, we assess the technicals for Litecoin (LTC) and its bullish and bearish probabilities.
Bullish Evidence
- We have formed a parabolic support on the hourly chart
- Prices initially created lower lows, until it transitioned into creating higher lows
- The Relative Strength Index (RSI) showed a series of uptrends and downtrend, and it has recently shown a breakout
- The Moving Average Convergence Divergence (MACD) shows decreasing bearish histograms and a potential golden cross
Bearish Evidence
- We are still creating higher lows on the price
- Should we break down the parabolic trend line support, the bullish case would be negated
What We Believe
Given that the parabolic trend line remains intact, we believe that we could see higher lows, and the formation of potential higher highs as well.
Trade Safe.
#LTCUSD ANALYSIS.. BROADEN THE PERSPECTIVE.. Big picture in #LTCUSD may be giving us important clues about price movements in the future.. I think it is meaningful to diversify approaches especially in the process we are in..
In the #LTCUSD monthly chart, Tom Demark has closed the red 2 last month, we can clearly see how the TD indicator has produced signals in similar situations from past to present, we can easily say that it is not positive for the medium-term.. Furthermore, Litecoin is below monthly ma20, this is also bearish.. In the chart, I expressed the price movements likely to occur within the descending triangle and falling channel.. My expectation is that the price will drop to $ 13 in the medium term.. We will wait and see..
You can find my thoughts about Btc and Eth in the link below..
Sometimes you need to break your knees a bit more to jump higher..
Disclaimer: I am not a financial advisor.. Please do your own due diligence when it comes to crypto-investing.. Never put in money that you cannot afford to lose.. Invest at your own risk..
I wish you all the best..
Some more litecoinAs you can see LTCUSD pair has formed an inverted ascending scallop formation against the resistance of the fibonacci spiral, broken out, formed a falling wedge and attempted to break out again. I believe this is the pullback before a larger rise, hence the C target. On the LTCBTC pair you can see the TopCap indicator showing the value of the pair at its peak, which increases as each day passes.
Litecoin short-term target.Hello guys,
I found a cup and handle pattern on the 30min chart. So that's bullish on short term. If litecoins breaks the next resistance around $42 it could easily move up to $43.
If it hits the resistance level of $44 it will probably get a correction, because bitcoin could drop anytime ( see following idea)
Leave a like if you like this idea, I hope it's useful!
This is not financial advice, always do your own research.
Litecoin Enters Elliott Wave Sell Zone LTCUSD's decline unfolded in five waves with an extended move in wave v.
Since the market bottomed around $25 price has been moving upward in a sideway manner, which is what to expect after an impulsive move according to Elliot Wave theory.
The correction seemed completed and unfolded as a double zigzag. Further confluence suggesting the end of the correction includes the rejection of 38.2 Fibonacci level, 50 EMA, S&R level, and retest of the broken ascending trendline.
Price has the potential to move lower from or near the current level and retest the wave (a) low and even extends lower.
The bearish wave count remains valid as long as the price stays below the red line, "47.69" level.
What's your thought on Litecoin?