LTCUSD
Litecoin: Potential Wyckoff Distribution RangeHere's a schematic I drew out replete with some volume spread reads which seem to indicate LTC may be fixing to distribute. If we rally above TRR we must take caution to ensure we are not buying into a liquidity grab before the LPSY dump. If you chose to swing this, the lower retracement levels are ideal profit-taking/selling opportunities; for longer-term hodlers they can serve as reliable DCA junctures.
Be sure to subscribe for more clean, accurate, easy-to-follow swing charts with exceptionally high win ratios (80-85% average). I've been a fulltime crypto trader/investor since 2017, and I handpick all the runners myself after conducting a series of careful volume-to-spread reads and Wyckoff schematic comparisons.
Not financial advice. Always DYOR & trade at your own risk.
LTC.D - Litecoin Dominance Goes WildLitecoin dominance was in a degenerative state since 2019. A strong reversal move has emerged with a 70% gain in a very short time. This is unusual for a dominance chart.
The bars pattern placed just is a punt showing a recovery of the highs of dominance for LTC.
Litecoin is a great long choice based on this chart and other charts linked below
ETHUSD and LTCUSD Technical Analysis – 08th DEC, 2022ETHUSD: Double Bottom Pattern Above $1218
Ethereum was unable to sustain its bearish momentum and after touching a low of 1211 on 07th Dec, the price started to correct upwards against the US dollar moving into a consolidation channel above the $1200 handle today in the European trading session.
We can see the formation of a bullish harami pattern in the 15-minute time frame indicating a bullish trend.
The Williams percent range indicator is back over -50 in the 2-hour time frame.
We can clearly see a double bottom pattern above the $1218 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.
ETH is now trading just below its pivot level of 1232 and moving into a consolidation channel. The price of ETHUSD is now testing its classic resistance level of 1234 and Fibonacci resistance level of 1235 after which the path towards 1300 will get cleared.
The relative strength index is at 53 indicating a NEUTRAL demand for Ether and the continuation of the consolidation phase in the markets.
We can see both the bullish harami and bullish harami cross pattern in the daily time frame.
Both the relative strength index and the average directional index are indicating neutral levels, which means that the prices are expected to remain in a narrow range in the short-term range.
Most of the technical indicators are giving a STRONG BUY market signal.
Most of the moving averages are giving a BUY signal and we are now looking at the levels of $1300 to $1400 in the short-term range.
ETH is now trading below its 100 hourly simple and 200 hourly exponential moving averages.
Ether: bullish reversal seen above the $1218 mark
The short-term range appears to be mildly bullish
ETH continues to remain above the $1200 levels
The average true range is indicating LESS market volatility
Ether: Bullish Reversal Seen Above $1218
ETHUSD is now moving into a mild bullish channel with the price trading above the $1200 handle in the European trading session today.
ETH is now preparing to enter into a consolidation phase above the $1230 handle, after which fresh upside waves are expected.
ETHUSD touched an intraday high of 1234 and an intraday low of 1223 in the Asian trading session today.
We have seen a bullish opening in the markets this week.
The daily RSI is printing at 47 indicating a neutral demand for Ether in the long-term range.
The key support levels to watch are $1191, which is a 14-3 day raw stochastic at 50%, and $1215 at which price crosses 18 Day Moving Average.
ETH has increased by 0.09% with a price change of 1.07$ in the past 24hrs and has a trading volume of 4.698 billion USD.
We can see a decrease of 24.01% in the total trading volume in the last 24 hrs which appears to be Normal.
The Week Ahead
ETH price continues to remain under mild bullish pressure and the prices are expected to remain in a bullish traction this week.
After the current wave of consolidation gets over, we are expecting fresh buying pressure above the $1200 handle which will push the price above the $1300 level.
The immediate short-term outlook for Ether has turned bullish, the medium-term outlook has turned neutral, and the long-term outlook for Ether is neutral in present market conditions.
The price of ETHUSD will need to remain above the important support level of $1199 at which the price crosses 9-day moving average stalls.
The weekly outlook is projected at $1400 with a consolidation zone of $1350.
Technical Indicators:
The relative strength index (14): is at 53.20 indicating a NEUTRAL.
The STOCH (9,6): is at 69.01 indicating a BUY
The MACD (12,26): is at 0.350 indicating a BUY
Bull/bear power (13): is at 1.498 indicating a BUY
LTCUSD: Hammer Pattern Above $75.38
Litecoin was unable to sustain its bearish momentum last week and after touching a low of $75.38 on 02nd Dec, the prices started to move upwards against the US dollar touching a high of $83.87 on 05th Dec.
The prices of Litecoin have corrected lower due to short selling, but a rebound in the prices is expected after the consolidation wave gets over.
We can clearly see a hammer pattern above the $75.38 handle which is a bullish pattern and signifies the end of a bearish phase and the start of a bullish phase in the markets.
Litecoin is now trading below its 100 hourly simple moving averages and below its 200 hourly simple moving averages. The price of LTCUSD is just below its pivot level of 75.86
The relative strength index is at 54.25 indicating a NEUTRAL demand for Litecoin and the shift towards the consolidation phase in the markets.
We can see the formation of both bullish harami and bullish harami cross patterns in the 15-minute time frame.
Litecoin touched an intraday high of $77.30 and an intraday low of $74.54 in the Asian trading session today.
The prices of Litecoin continue to remain above some of the moving averages, which are now giving a BUY signal at current market levels of 74.98.
The RSI is indicating a neutral level, which means that the prices are expected to move towards the consolidation phase in the short-term range.
The short-term outlook for Litecoin has turned mildly bullish.
Most of the technical indicators are giving a buy signal
Litecoin: bullish reversal seen above the $75.38 levels
The STOCHRSI is giving an overbought signal
The average true range is indicating LESS market volatility
Litecoin: Bullish Reversal Seen Above $75.38
The price of Litecoin is moving into a downside correction wave above the $74.00 handle and after this we are expecting fresh upsides at $80 and $85 levels.
The commodity channel Index is giving a bullish divergence signal in the 4-hour time frame.
We can see the formation of a bullish trend reversal pattern with the adaptive moving average AMA20 in the 15-minute time frame.
We have seen a bullish opening of the markets this week.
The price of LTCUSD is now facing its classic resistance level of 81.12 and Fibonacci resistance level of 85.77 after which the path towards $90 will get cleared.
Litecoin is now facing its resistance zone at $78.45 which is a 3-10 day MACD oscillator stalls and at $79.17 which is a 14-3 day raw stochastic at 80%.
The daily RSI is printing at 54 which is indicating a neutral demand for Litecoin and the continuation of the consolidation wave in the medium-term range.
LTCUSD has decreased by 2.21% with a price change of 1.70$ in the past 24hrs and has a trading volume of 0.495 billion USD.
Litecoin’s trading volume has decreased by 19.77% compared to yesterday which appears to be normal.
The Week Ahead
The prices of Litecoin continue to move into a narrow range between the $70 and $85 levels which are the consolidation levels in the 30-minute time frame.
We are expecting more upsides towards the $80 and $85 levels, after the current downside wave gets exhausted.
Litecoin is expected to enter rally mode next week.
The price of Litecoin needs to remain above the important support level of $71.82 which is a 14-3 day raw stochastic at 50%.
The short-term outlook for Litecoin has turned bullish, the medium-term outlook is bullish, and the long-term outlook is neutral at present market conditions.
The weekly outlook is projected at $85 with a consolidation zone of $80.
Technical Indicators:
The STOCH (9,6): is at 61.52 indicating a BUY
The commodity channel index (14): is at 179.55 indicating a BUY
The bull/bear power (13): is at 28.93 indicating a BUY
The Williams percent range: is at -25.82 indicating a BUY
Disclaimer: This forecast represents FXOpen Companies opinion only, it should not be construed as an offer, invitation or recommendation in respect to FXOpen Companies products and services or as financial advice.
Litecoin- Ideal place to sell for 1:3 R:RI was bullish on Litecoin since 2 days ago and thought it will rise to the 95-100 zone.
However, the coin started to look tired and I closed my trade just above 80.
In my opinion, crypto bulls are not out of the woods and a new wave of strong selling could follow in the near future, so I'm preparing for this scenario.
In Litecoin's case, looking at the chart, we can see that the resistance above 90 is very strong, and in that place, I will look for short opportunities.
Considering a new visit of 50 support such a trade would have a 1:3 risk: reward
LITECOIN is moving, everyone should be happy!Everytime Litecoin outperforms Bitcoin (shown by the orange line), a new Bull Cycle starts. This has been historically holding since 2015. We can claim that an LTCUSD channel up is an early buy signal for BTCUSD. And right now LTC is in a similar rising channel as in January-June 2015 and January-June 2019!
Bitcoin is most likely in an accumulation period ready to start a big rally.
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LTCUSD Is a Good Bet Right NowI saw this in a prior analysis but thought I would elaborate a bit.
The horizontal in 2017 was a period of low volatility, extremely low. But it was a great place to buy. Price pumped to about $300.
The horizontal seen today shows low volatility again, on a grander scale. Can the pump points be compared?
As digital currency enters the mainstream Litecoin will win in this setting.
Mimblewimble, Litecoin's newest network Mimblewimble, Litecoin's newest network upgrade activates on the 19th of May 2022
We look at the logarithmic chart
LTCBTC is trading near the lower support line of the descending channel, against the backdrop of good news, I expect a rebound to the middle line of the channel, and possibly even to the channel resistance line.
Current LTC price 70$
Best regards EXCAVO
LiteCoin Is Looking HigherLitecoin made some nice breakout above November highs recently, which we see it as a higher degree wave C or maybe even wave 3 after a completed irregular/expanded flat correction in B/2 on November 9th.
Litecoin hasn't finished its rally yet, it's still pointing higher within wave C/3, as five-wave cycle of the lower degree looks to be unfinished. So, be aware of further rise at least up to 90 area for wave C, if not even above 100 for wave 3.
Don't forget, risk-on sentiment seems to be back in the game, as stocks are recovering and USD is losing its power that can be easily in favor of Crypto.
A catalyst for even further weakness of the buck in the last two sessions are FOMC minutes in which members noted that they will be careful with hiking rates going forward. This sounded dovish so US yields came down, notes higher which had a negative impact on the USD and a positive on stocks. So lower USD can definitely help cryptos, especially those that are doing well for the last few days, such as LTC.
All the best!
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Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
Litecoin (LTCUSD) Testing 1.5 YR+ Downtrend ResistanceLitecoin is breaking out above a major downtrend resistance connecting the May'21 and Nov'21 highs. The last pre-halving rally began roughly 7 mo before peaking (Jun'19) 2 mo ahead of the Aug'19 halving. If LTCUSD behaves as it did last cycle, w/ the next halving occurring Aug'23, and the pre-halving rally ending ard Jun'23, the 7 mo pre-halving rally has likely begun.
BINANCE:LTCUSD
LITECOIN: Doing the heavylifting of the new Bull CycleThe Litecoin has been testing the 1W MA50 (blue) line in the past two weeks for the first time since November 2021, indicating the bearish pressure that the market has been through these past 12 months.
This goes against the heavy selling pressure on Bitcoin and other high capitalization coins. We've mentioned countless times that LTCUSD tends to do the initial rise during Bull Cycles and this times is no exception as it is doing the heavylifting as the market is entering its new Bull Cycle.
In previous rallies, every time the 1W MA50 broke, the price also hit the 1W MA100 (green) line. On this long term Channel Up that has been trading on since the begining, it is obvious that the majority of the price action is done inside the 0.236 - 0.618 Fibonacci levels. The rallies of early 2019 and Sep 2020 - May 2021 started from the 0.236 and ended on the 0.618, respecting the high impact zone we mention above.
Although it is likely to see a full year of trading within Fib 0.0 - 0.236 before a hyper rally, it is also quite probable that if LTC closes a month above the 1W MA100, to see a full scale rally to the 0.618 Fib or at least the middle of the Channel Up.
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LTCUSD Climbs into Weekly Channel Litecoin has seen a early move with price climbing into the midst of the Gaussian Channel on this Weekly timeframe
This allows price to form a strong wick/candle at the bottom of the channel as price continues to move upwards
Ridiculously good buy when considering the Monthly of this chart aswell