Litecoin at crossroads: 3 Key info. to Keep in Mind

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Conclusion for today’s Litecoin analysis: A break above Litecoin’s long term bearish trendline provides further evidence of a trend change and bullish bias.

A logarithmic scale is used on the 6 hour timeframe chart for today’s Litecoin analysis with coverage of over 8 months of market action. Of great importance is the major bearish trendline in Litecoin that is currently active and has lasted over 14 months as highlighted on the chart.

This is due to the termination of bullish momentum at the trendline on February 24, 2019 when a price high of ~$54.80 was achieved in Litecoin. Lack of a close above the trend line implies potential entry point for bearish trades or positions.

Conversely, a bullish price channel is used to put price action into perspective following the termination of bearish momentum on December 14, 2018 at a price low of ~$23.05, which resulted in Litecoin reaching $54.80.

The lower boundary of the bullish price channel between $38 and $40 provides opportunity for entry into a long (buy) position(s), with the expectation for Litecoin to break above upper boundary of the bullish channel and longer bearish trendline .

Support for Litecoin below the bullish channel is present between $30.32 and $28.48, with Litecoin expected to target this support region on a breach below the lower boundary of the bullish channel . This would imply trouble, and even worse is price closing below $28.48.

EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out