Litecoin (LTC), released in October 2011, is a global decentralized digital currency, based on blockchain technology. It is often referred to as a lightweight Bitcoin, because it's technically nearly identical, but substantially cheaper. All transactions are recorded on a public ledger called The Blockchain. It allows faster processing and faster transaction confirmation. It has the fourth largest market capitalization of all the cryptocurrencies and is carried by many exchanges.
The number of units is capped at 84 million and almost 49 million are in supply. Because of this cap, inflation won't decrease their value. Litecoin miners use their computers resources to support the cryptocurrency that's based on an open source protocol and get rewarded with Litecoins if they have done a certain amount of cryptographic work. Units can be bought or sold against bitcoin or against a fiat currency like the USD or the EUR. You can also purchase good and services with them.
LTCUSD is approaching our first support at 54.90 (horizontal swing low support, 61.8%, 100% Fibonacci extension) where a strong bounce might occur to our major resistance at 59.20 (horizontal overlap resistance, 61.8% Fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
Trading CFDs on...
This is the current history of Litecoin.
In a few years, when LTC is over $1000 and it's people have held and accumulated through the bear market REWARDED they shall be!
LTC Chart D1 Analysis:
Trend: uptrend
Target1: 68.68
Target2: 84.65
Buy on D1 & stop loss: 55
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Even though I prefer the previous elliott wave I have counted, this option is also on the table.
I know that the target range is a little bit much.
Above 75 USD this Elliott count is invalid!
Target is still under 20 bucks.
Great trades !
Litecoin is testing interim support on Friday, as the fourth largest cryptocurrency struggles to make gains above the $60.00 resistance level. Bearish price divergence is also building on the Momentum and MACD indicators on the four-hour time frame. A sustained break under the $53.00 support level should accelerate technical selling back towards the important...
Value is above EMA14, EMA50 and Ema100. It has a strong upward trend and I think that it will keep going on this way.
Buy: Up to 14950
Sell Targets:
15800
17100
18500
Stop Loss: Close weekly candle below 12347
Litecoin on the 4hr timeframe appears to be trying to move above the 20MA + 50MA after falling below them a day ago.
The volume is not picking up on Litecoin and it appears buyers are afraid to get in around this area. This suggests that Litecoin is going through some consolidation after yesterday's drop, which also indicates that this is possibly a continuation...
Litecoin is still showing signs that bears are more in control. I haven to changed my potential short at $68 and will continue to do so unless the price drops precipitously, then I am looking to re-long at $48. The only real worry is if Litecoin breaks that that significant trend line around $40-$41. What is also worrisome is that there aren’t any high volume...
Here we have COINBASE:LTCUSD on the Daily. I believe we'll reach for $64-$66 range and prior support/resistance before retesting middle $50's. Looks to continue healthy gradual growth and pullbacks.
Litecoin has been a little tricky to trade and since I’ve closed out my short at $60ish I haven’t reentered this trade. It’s currently trading around $59.410 at time of writing but I am still expecting a drop. It might bounce here but according to my rising wedge I think any bounce here is detrimental to its price. I originally had a short position set for $68 but...
Litecoin has now confirmed the potential reversal zone for the bearish bat on the daily timeframe, I've been monitoring the progress of this setup for several weeks and watched the C to D leg materialise. This opportunity is purely based on technical measurements and the reasoning for a market correction is perfectly logical.
Let's quickly review the previous...
Bitcoin will not be a medium of exchange, price volatility would turn the local corner store into a highly leveraged speculator. With that said, Bitcoin has its place!
Conclusion for today's Cardano Analysis: A breakout above 0.00001336 confirms higher prices in ADABTC
Price action from June 5, 2018 to current date is covered in today’s Cardano analysis on the Daily timeframe. The downtrend in Cardano from June 2018 is highlighted with the descending or falling wedge chart pattern.
This is immediately followed by a side trend...
I have seen many people looking at the big bearish wedge of Litecoin, I understand why because it almost has the perfect shape. However, there are a few things to look at before simply assuming it's a real one. First of all, the volume picture is not really confirming the wedge, it's dropping but still high. Also the start of the wedge, not easy to say where that...
There is falling wedge formation on LTCUSDT. So in short term I expect LTCUSDT to go down to our weekly support around 48-50 usdt (weekly re-test). And than keep going up till 90 usdt.
Wish you the best...
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