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LTCUSD trade ideas

Pincher Triangle Pattern forming to a head in LTCIf the selling pressure continues, might there be another price spike or sell-off with another retest of the 50 MVA? I'm tracing a pattern from the prior retests of the 50 MVA. Each time, a long wick forms from selling pressure and drops to where the prices firmed up for the day. This traces through to a second time the 50 MVA was rested if you trace further back. Here, we can see some price action from around Feb 1st and into the 2nd for the presumptive rest of the 50 MVA (tracing for every 20 days at approximately -2%. Other than more downward pressure, there are still some buying options for LTC if you believe (like me ) that we'll retest $340 again and potentially within a year.
COINBASE:LTCUSDLong
by cnote56
Small corrective pattern or completion of larger wave degreeDear Friends, I hope this message finds you well and that you're having a great start to the week. I wish you success in your business endeavors. As someone interested in the Elliott Wave principle, I find it a valuable tool for analyzing the market. I have developed my approach by combining this principle with my personal experience and by considering various scenarios that are likely to occur in the market. I am sharing my analysis with you, but please note that I am not providing any buy or sell signals. I aim to share my unbiased analysis with you so that you can use it as a guide to make informed decisions. The first analysis is Litecoin In the attachment, you will find my previous analysis of the same market, so you can compare and see the differences. All the details of my analysis are clearly labeled, making it easy for you to understand (although having a basic familiarity with the Elliott Wave Principle theory will help you understand the analytical idea more easily). I have been studying the Elliott Wave principle for almost three years now. With time, my understanding of this knowledge and experience has increased. What I have achieved so far is a legacy of a genius named Ralph Nelson Elliott, and I am truly satisfied with my progress. May his soul rest in peace and his memory be cherished. Thank you for your support so far. I am grateful and will always remember your kindness. Please feel free to share your thoughts and feedback with me. I hope my analysis will be useful to you in your business journey, and I wish you all the best. Sincerely,
CRYPTO:LTCUSDLong
by mehdi47abbasi79
2
🏃‍♀️🏃‍♂ LTC. The spring has compressed. XxX's are inevitableOne of the most anticipated online events in the digital currency ecosystem in H2'23 was the Litecoin (LTC) halving, that took place in early August, 2023. As the cryptocurrency market prepares for one of the network's major events, the Litecoin (LTC) halving, investors and analysts were peering into the crystal ball of market trends in an attempt to predict the outcome. However, based on the hype that has accompanied the halving event over the past few months, there is good reason to believe that the online event may produce a different result than expected. Historical backtest analysis says that every time the number of new addresses COINBASE:LTCUSD exceeded 350,000 over the past five years, a significant price correction followed. More than 690,000 LTC addresses have recently been created, suggesting that the upcoming halving could be a “news selling” event. On the other hand, the upcoming Litecoin halving, in theory, provides the opportunity for a significant price increase. This thesis stems from the deflationary effect that halving will cause, reducing the rate of creation of new Litecoins. Combined with the growing demand for the coin, this again, in theory, could create an ideal scenario for price growth in the medium to long term. The aftermath of the Litecoin halving should provide the cryptocurrency community with valuable information, especially as investors prepare for the subsequent Bitcoin halving BITSTAMP:BTCUSD , scheduled for April, 2024. Technical picture in Litecoin COINBASE:LTCUSD at the same time indicates a continuing deflationary price compression, with possible prospects for a further price decline within the boundaries of a downward channel to multi-year/ historical lows.
COINBASE:LTCUSD
by Pandorra
How to use Anchored VWAP There's considerable confusion about the practical use of anchored VWAPs. Personally, I leverage them as genuine resistance/support lines due to their integration of volume. Consider the 2021 LTC top around 397 USD, often perceived as the resistance line prompting many to exit. However, in my Anchored VWAP trading approach, the true resistance stands at 136 USD. A sustained break and successful retest of this updated line indicate potential for prices surpassing the 2021 highs. Likewise, the 2022 bottom at 43 USD served as support or resistance in various periods, now residing near 75 USD. From my perspective, the current LTC price seems below the prior 2022 lows, suggesting bearish control. I recommend NOT A BUY until we securely close above this price resistance. Follow for more!
BINANCE:LTCUSDEducation
by DEFI-trader