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Litecoinanalysis

Litecoin at crossroads: 3 Key info. to Keep in MindConclusion 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.
BITFINEX:LTCUSD
by Coin_Analyst
Litecoin Analysis: Important Info. for Intraday Timeframe TraderConclusion for today’s Litecoin technical analysis: Conservative entry into a long (buy) position(s) involves buying a breakout above $39.62 The 6 hour timeframe candlestick chart is presented in today’s Litecoin price analysis with coverage of market action over the past 5 months. Downward momentum was maintained up until price hit a low of $22.84 on December 7, 2018 followed by a bullish price swing that reached a price high of $39.62 on February 08, 2019. Bearish trendline in Litecoin lasting just over 5 months is indicated on the chart and was successfully broken to the upside as part of the development of bullish momentum that climaxed on February 08, 2019. The current bearish trendline is anticipated as support on further retracement of price, which implies the $38 price level indicating a possible change in polarity i.e. previous resistance acting as support. Lower support level (i.e. between $30.32 and $28.48) is also indicated on the chart and expected to provide support should selling continue below the $38 level. Moreover, the current bullish trendline from the December 7, 2018 low in price is also drawn on the chart as region to watch out for price consolidation. The most conservative approach to going long (buy) on a breakout above $39.62.
BITFINEX:LTCUSDLong
by Coin_Analyst
Litecoin Analysis: Important Info. To Keep in MindConclusion for Today’s Litecoin Technical Analysis: A break below ~27.34 implies continuation of the current bearish trend in Litecoin. A logarithmic scale is used on the Daily timeframe for today’s Litecoin Analysis, and price action from December 12, 2017 to current date is examined. The chart pattern used to highlight the trend in Litecoin from December 12, 2017 is a bearish price channel. The most recent bullish price swing in Litecoin occurring from 22.17 on December 14, 2018 to a price high of 41.27 on January 8, 2019 is currently being retraced, with price setting at the upper boundary of support at 29.65 as indicated on the Daily chart. A bullish price channel (tentative) is also used to put into perspective price action from the December 14 low to current date. Daily support at 27.57 marks the lower boundary anticipated to provide the basis for more bullish upside. Lack of bullish momentum at 27.57 and break below implies continuation of the current bearish trend that will see Litecoin close below the low made on December 14, 2018 of 22.17.
COINBASE:LTCUSD
by Coin_Analyst
Litecoin Analysis: Short Term UpdateConclusion for today’s Litecoin Analysis: Price closing above $41.19 is the most conservative way to initiate a long (buy) trade. Litecoin closing below $27.49 reduces the chance of continuation of the current bullish price swing. Litecoin Analysis is carried out on a 4 hour timeframe with price action from November 24, 2018 to January 6, 2019 indicating the formation of a chart pattern referred to as a head and shoulders bottom or inverted head and shoulders bottom. The above mentioned pattern has bullish implications ideally, with confirmation occurring after price closed above the neckline at ~$35.92. The immediate bullish trendline drawn on the 4 hour timeframe has currently been broken to the downside which is bearish. $29.36 and $27.49 represents the region of support for Litecoin and these price levels should offer a floor for price action should the current retracement reach support. Price closing below $27.49 decreases the chance of continuation of the current bullish trend. The most conservative way to go long (buy) is to initiate an order on breakout above the high of January 8, 2019 which = $41.19, with the width of the head and shoulders bottom providing a minimum target for price upon breakout.
KRAKEN:LTCUSD
by Coin_Analyst
EURSGD analysis: Important info. to keep in mind.The 1 hour time frame of the EURSGD is shown in this analysis from October 8, 2018 to current date. A bearish trendline is used to highlight the current trend on the 1 hour timeframe, with resistance line (overhead supply) indicated by the red line. Support is currently between 1.55396 and 1.55103. A break below support, especially the 1.55103 price level would indicate continuation of the current bearish trend, however, it is always better to sell on a pull back. The bearish trendline (in green) was further extrapolated and could possibly provide a ceiling for price after which selling will commence. If not, a retracement to the red line would be anticipated.
by Coin_Analyst
Litecoin Bullrun coming soon!Firstly, comment if Im wrong or something is wrong! 1. Tried to break resistance, not enough momentum. RSI was high (overbought) and momentum wasnt enough. Dropped again to support. It helds easily and started 2 2. Strong bullish move. Broke resistance but didnt hold this time. But still lots momentum and price didnt drop much. Second peak(continue still) tests resistance again. RSI didnt drop after peak like happened in 1,so. Much momentum. I think there is change next bull movement starts (about 60%), and if it dont and comes to support again next time litecoin has even more potential to break resistances. Im not professional so comment your thoughts about this. It also helps me if you say that my idea sucks so tell me in the commentsection. BTW im 16years, Thanks.
by SuomiJamppa
LTC-USD Market Analysis - 17 June 2018LTC has been moving inside the Descending triangle pattern since long and finally fell downwards. The first good resistance lies in the $112-$118 zone.(10% up or down maybe). Getting back to the current situation. The price is around $95. If the price falls back further to the upper level of the next possible support($85-70) and rebounds from there to the next possible local fibonacci level of around $108, which is rougly equal to a gain of around 20-25%. EMA + RSI EMA and RSI lines are nearly about to converge. So, we may have a potential BUY signal soon. Note that nothing can be stated about the strength of the buying signal. Keep an eye on other indicators too like the Volume to know about the strength. I have smoothed out the EMA over RSI. This is done in order to vercome choppiness and get better entry and exit points. Just remember this always that , If the RSI line(White) is ABOVE EMA line(Red) = BUY If the RSI line(White) is BELOW EMA line(Red) = SELL WILLIAMS ALLIGATOR The Williams alligator shows signs of further downward movement. Since, this is a lagging indicator, this sign is justified due to massive bearish trend which started on 6th May. Also, just remember that when the order of line is : 1. GREEN > RED > BLUE = BUY 2. BLUE > RED > GREEN = SELL MACD The lines seem to be converging which will result in a BUY signal. Though, at this moment they are really far from each other and any kind of massive selling may push these away further. Note that, the MACD is converging inside a symmetrical triangle but still needs more time for development.(Will focus more on this in my next update). ADX AND DI -DI moved above +DI on 15 May which marked the onset of Bearish movement. Currently, -DI and +DI are way too far from each other and ADX is resting at 37 value which means that the prevalent trend is strong. So, more time is needed to see any change in trend. VOLUME INDICATOR AND VOLUME OSCILLATOR The most important thing which i noticed on the daily graph is that, the with falling price, the volume has been falling continuously. This is obviously, in favour of BULLS. This clearly marks the loss BEARISH momentum. In addition to this, the Volume oscillator indicator also indicates a loss of bearish momentum. The oscillator has a negative value of -14. For all those who don’t know how volume oscillator works, let me explain it to you in simple words. This indicator plots positive values above the zero line and negative values below the line. A positive value suggests there is enough market support to continue driving price activity in the direction of the current trend. A negative value suggests there is a lack of support, that prices may begin to become stagnant or reverse Litecoin is already in a clear downrend. A positive value of volume oscillator may have suggested further downward movement. But since, the value is negative, there is a lack of support and the trend may reverse soon. CONCLUSION: I’ll leave it for you to decide. I am neither shorting nor longing at this moment, i am just sharing this for knowledge purposes only. P.S: This is not an investment advice, and i am just learning. This is for my learning purpose only. Invest your capital at your own risk. Those who wish to achieve greatness, never seek for permissions. They follow what their heart says, and do what their mind states! Good luck trading.! Peace.
BITFINEX:LTCUSD
by johntradingwick
13
Found support, ready for the rebound to 148.427The price has found an excellent cushion level just above the 106.323 1W support since our last analysis. You see that the Fibonacci levels are working to perfection in determining the Lower High, which each time is located just above the 0.5000 extension (check the yellow horizontal rays). 1H is already picking up on pace (Highs/Lows = 0.2079, B/BP = 1.1320) as 4H is consolidating (neutral RSI = 50.613, STOCHRSI = 54.721, CCI = 14.3271, Highs/Lows = 0.000) having formed the support base. Our Tp remains 148.427.
BITFINEX:LTCUSDLong
by InvestingScope
1