We may have completed an Elliot wave pattern, I think this is the most likely scenario, as the C wave may have completed a falling wedge and started the next move up. A break above $146 in the long term will confirm this. A move under $63 will signal lower movements.
I would recommend a stop loss under the $63 zone.
Litecoin rejected off the 55 EMA daily on it's first attempt to crack it. The smaller EMAs (8,13,21) are the next line of support. From here we will hope to retest the 55 EMA. Just a waiting game. If things go sour over the next week then there's a high chance to go back to the local lows near the end of the C wave.
So if you take the Fibonacci extension from the December low of around $20 to the high of June at around 140s to the current pullback at the .618 level of $63s, you will have a nice run up into the end of the year to around the 1.618 extension around the $250 LTC/USD per coin.
Good luck and happy trading!
Good morning all!
lower high and higher low for LTC. Negative momentum is either running out or resetting. Watch for potential trend shift with this! Upper target it $84-$85. A rejection would re test the previous low near $73.
Litecoin finished 5 waves up to hit it's 2019 ATH. Now it has completed it's massive ABC correction and is looking to take the first steps to starting it's journey back up to new highs! The first step will be to clear the 55 EMA on the daily! If we get rejected, we may retest the local low.
It looks like Litecoin too is poised to breakout by the end of the year. Looks like the MACD is showing a slowing of bear trends and will start heading upward with the rest of the crypto market.
If 2017 repeats, we will see at least the top 20 alt-coins breaking out with bitcoin. There are much higher returns for those investing a few thousand dollars in an alt...
First of all oscillator, Oversold
Second of all EMAs :) Uptrend
Third: Channel: it may come down a little and hit the bottom, also 50 and 61.8 Fibonacci levels,
4th: Yellow resistance box that became to support
That is about all :) if you have any comment or ideas, i'll be happy to read it
Good morning all!
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LTC might need one more drop here before rising up. BTC and LTC price development are almost exactly the same at the moment. XRP has already made the lower low with bullish divergence signals. Will the other coins be following XRP?
For more detail about these signals check out my recent posts about XRP and BTC!
LTCUSD is well analyzed by levels although it often makes false breakouts.
Now the price is moving towards a strong support level of 71.7, from which I recommend buying LTC with a target to the resistance level of 76.85
Per my previous idea I anticipated a big dump to sub 0,23 level failing to break 0,285 resistance... It obviously didn't work out this way hence my obligation to re-assess and try figure out next move.
The question is did we really start the bull run to new ATH? Well 0,38 level will be the first to watch for and will be my next target. Breaking this...
As expected a month ago (look update from August, 19 in my telegram channel), the litecoin completed the ending diagonal in the wave (c) of and rushed up. The only downside is that the structure of this upward movement so far raises a lot of questions and does not look pretty at all.
On the other hand, the critical levels are clear, targets too. You can trade =)...
Two months and a half ago, Litecoin was hovering in the vicinity of $147 a coin. The bulls seemed unstoppable after lifting the price by over 560% in six months. Unfortunately, an invisible threat was brewing under the surface.
According to the Wave Principle, a five-wave pattern, called an impulse, indicates the direction of the larger trend. As the Daily chart...
LTCUSD reversed off its resistance at 79.66 where it could potentially drop further to 62.75.
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$LTC / $USD
Descending trendline breakout following with Buy UCTS signal flashing on the daily chart as we hit ~77$ resistance matching EMA50(green)
Zooming in: continuation from here is key but will only happen if we can flip current level
If Happens, aiming for ~84$