Litecoin just keeps on popping up, ignoring all the resistances and possible short term bearish pattern. It even broke that channel on the upside already, which is something that rarely happens. So that "long" term resistance around 50 broke as well. Because of this, the real test will be seen now.
We have already made a pullback to the 50/48 zone, there is a...
LTCUSD is approaching our first support at 46.75 (horizontal overlap support, 38.2% Fibonacci retracement, 61.8% Fibonacci extension) where a strong bounce might occur below this level pushing price up to our major resistance at 55.80 (100% extension, horizontal swing high resistance).
RSI (89) is also approaching support where we might see a corresponding rise...
I feel that the chart is clear enough to explain the idea behind it.
Litecoin's two bear markets (2014-2015 and 2018-2019) share a similar pattern behavior. A Buy Signal occurred in May 2015 after the bottom was made in January and a support was formed. The price broke a Lower High trend line and rallied nearly +700%. The duration from the bottom to the rally's...
Litecoin is absolutely crushing upside resistance right now. As you can see, it has broken out above the uptrend channel (in blue,) and it has even poked it's head above the 200 EMA (in purple.) The last time LTC was above the 200 EMA was in the middle of May 2018. So, it has been nine months since we were last above this resistance. This is VERY important to pay...
Previously I posted a short trade for LTC following the November 2018 sell-off, but limited information invalidated the trade:
Now that the range is clear we can prepare to short this market again. Here's the weekly view:
***This...
The recent market bull run is just an abc pattern correction wave beginning in December before the final dump, now finally it's coming to an end.
For LTCUSD pair, it is now entering a heavy resistance zone, where the free fall in Nov starts, roughly 50-55 dollars.
Daily time frame RSI and volume are both losing momentum...
Litecoin is currently the number 5 cryptocurrency by market cap with a circulating supply valued at $3,017,837,498 and a trading price of $49.82. Over the last 7 days, it has added 16.94%and is one of the top performers. The LTC/USD pair has been enjoying a steady climb since bottoming out at $22, is now supported by a strong bullish trend line and trading above...
Quick plot based on fib intersections.
Pullback looks to be in progress.
My last analysis calling for 51.65 top:
Previously the call for 29/30 bottom:
...
I don't trade LTC and won't be taking this trade but I just stumbled upon this chart. Chart should be self explanatory.
In case of questions please feel free to ask.
After reaching first target the attempt to retest current high is very much possible, or rather I expect it.
LTC has continued to show strength as it lead the markets over the last two weeks. The price has begun to make its way into this upper channel of price discovery--and the bullish volume has been steady (if not increasing) to support this upwards trend.
So far, it seems that February has been great for Litecoin as it's price has managed to cross the 20 days Moving Average, it consolidated it's position at the top and also registered a growth of 55% until today.
Of course, this huge price change was stimulated by the higher trading volumes than before and also by the market capitalization of the...
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