Litecoin (LTC) Turns Down From $80 Resistance, a Sideways Move Likely

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bullish
Today, Litecoin is in an upward move after rebounding at a low of $72. The coin has moved up to a high of $79.65 but it is being resisted. On February 9, the bulls have earlier tested the $78 but were resisted and the coin fell to the low of $72. It was at this low we have the current upward movement. On the upside, if the price breaks the minor resistance at $79, LTC will rally above $80. On the downside, if the selling pressure continues the coin will reach the low of $72.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
Meanwhile, Litecoin is above 80% range of the daily stochastic. This means that LTC is in the overbought region of the market. LTC is likely to fall because buying is overdone and buyers are not available in the overbought region. Sellers are generated to push the coin downward.

LTC/USD Medium-term bias: Bullish
On the 4 hour chart, the bulls are in an upward move as the price reached a high of $79.65. Thereafter, a Doji candlestick appears in the uptrend. It indicates that the current uptrend is likely to reverse. In the uptrend, a Doji candlestick explains that buyers are unable to push the price higher. In addition, sellers are coming in to push prices to the opening price.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
Litecoin is above level 64 of the Relative Strength Index period 14. This explains that Litecoin is in the uptrend zone. The RSI indicates that Litecoin will rise again. Presently, the moving averages are trending northward indicating the uptrend.

General Outlook for LTC
Litecoin is still trading in the uptrend according to the Relative Strength Index and the daily Stochastic. Litecoin is in the overbought region. Presently, the upward move is doubtful because of the overbought condition. Secondly, a Doji candlestick indicates that the bulls are not able to push the coin higher.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $79.63
Stop: $70
Target: $90

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Litecoin (LTC) Fluctuates, Battles Resistance at $72

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bullish
Since February 1, the bulls have continued to bombard the resistance at $72. Unfortunately, the bulls have made two unsuccessful attempts but are unrelenting. A third attempt is also made at the resistance. A successful break at the resistance of $72 will propel the coin above the $80 price level. That is not the end.

There is a probability of the momentum extending to the $96 price level. Nonetheless, if the bulls are successful above $80, Litecoin is said to be out of the downtrend zone. On the other hand, if the resistance remains unbroken, Litecoin will continue its fluctuations below the resistance level. Alternatively, the bears may break the low of $68, and the coin will drop to the low of $60.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
According to MACD, Litecoin is still in an uptrend. Litecoin will continue its upward move as long as the MACD line and the signal line are above the zero lins which gives a buy signal. Secondly, the price bars must be above the 21-day and 50-day SMAs. Thirdly, the EMAs have formed a bullish crossover indicating that the upward move is ongoing.

LTC/USD Medium-term bias: Bullish
On the 4 hour chart, the coin is in an uptrend. The bulls encountered resistance at the $60 and $62 price levels. The resistance made the coin to fall to the low of $52 or the support level of the trend line. The coin bounced and the price reached a high of $72 and  pulled back. The bulls are engaged in the  price tussle at the overhead resistance.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The bulls have reached the resistance at $72 and the coin is falling again. The stochastic also rose and it is approaching the overbought region of the market. When the stochastic reaches the overbought region, it indicates that the buyers are no longer on hand to push the LTC upward. Therefore,  LTC may fall in the presence of sellers.

General Outlook for LTC
Litecoin has the prospect of rising as the coin is in the bullish trend zone. Unfortunately, the knotty resistance at $72 is yet to be broken. The bulls have now made three failed attempts at the resistance to break it. At the moment, the coin is fluctuating in a tight range between $68 and $72. A break above $72 will propel the coin to go up higher. Similarly, a break of below $68 will push the coin downward.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $71
Stop: $68
Target: $80

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Litecoin (LTC) Turns Down, May Likely Move Up

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
Litecoin made an impressive run as the bulls reached a high of $62. Unfortunately, the coin fell as the bulls could not sustain the upward move. The coin is falling and has reached a low of $55. The market is expected to hold at the support of $55 because it is a historical price level. However, support has been holding for the past five days.

On January 19, the price bounces off but was insufficient as the selling pressure resumes. If the bears break below $55, stronger support will ensue where the coin will bounce back. On the upside, if the price bounces, the market will reach a high of $66. At this price level, the momentum will extend to $80. On the downside, if the bears break the low of $55, the coin will drop to $53.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
Litecoin is trading below 80% of the daily stochastic which indicates that the price is in bearish momentum. However, the bearish momentum is unsteady as the stochastic bands are making a U-turn. The 21-day SMA and 50-day SMA are pointing upward indicating the uptrend.

LTC/USD Medium-term bias: Bearish
On the 4 hour chart, the bulls reached a high of $62.50 but made a retest before making a downward move. The coin fell to a low of $55 and pulled back to retest the high of $60. The support at $55 is presumed to hold. The upward move will resume if the support holds.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The Relative Strength Index period 14 level 41which indicates that the coin is in the range-bound zone. The bears also break the trend line which also means that the bullish trend has been terminated.

General Outlook for LTC
Litecoin is still trading above the 21-day SMA and 50-day SMA. When the price bars are below the EMAs, the tendency to fall is there. Presently, the price is still fluctuating above the support at $55. The upward movement will resume if the bulls defend the current support.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $55
Stop: $50
Target: $80

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Litecoin (LTC) Breaks Out, Attempts to Retest the Overhead Resistance at $50

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bullish
There is no denying the fact that the bulls have broken above the $42 resistance level. The bullish move has been sustained as the market continues its bullish run. The market is currently facing little resistance at the $48 price level. The coin can rise and break the $50 price level after the resistance.

Nonetheless, Litecoin is expected to reach the high of $60 once the $50 resistance is broken. Alternatively, if the bulls fail to break the resistance at $50, LTC may be compelled to a sideways move for a few days .We expect the price to fluctuate between $42 and $50.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
The exponential moving averages are at the point of a bullish crossover indicating the upward move. The MACD and the signal line are at the edge of a buy signal. The bands of MACD are yet to be above the zero line to give a reasonable buy signal.

LTC/USD Medium-term bias: Bullish
On the 4-hour chart, the price falls to the low of $36 and makes an upward move. It’s first upward move is at $41. After a pullback the coin moves up again to $42 price level. On the third upward move the coin moves up again to the high of $44.

At the high of $44, the price drops to the low of $39. The current upward move commences at that low and reached a high of $48. Litecoin is currently facing resistance at $48. The coin is likely to make a retest at the resistance level.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The exponential moving average has made a bullish crossover, as the 12-day EMA crosses over the 26-day EMA. This indicates that the coin is rising. Litecoin is trading above 80% of the daily stochastic. The stochastic are sloping above the 80% range. This means that the coin is in a bullish momentum but the momentum is unsteady.

General Outlook for LTC
Litecoin is rising and at the same time approaching the $50 resistance level. Litecoin will continue its upward move if it successfully break above the $50 resistance. The price bars are above the EMAs; this implies that the coin will continue its upward move. All the indicators are virtually showing bullish signals. On the upside, if the price retraces, traders initiate buy order at the support level.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $47
Stop: $40
Target: $60

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Litecoin (LTC) Breaks Down, Lacks Buying at Upper Price Levels

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
Litecoin plunges again after being repelled at the $44 resistance level. The bulls failed to break the resistance level after two unsuccessful attempts at $44. The bears have already broken down the support at $42. Litecoin will drop to a low of $39 if the support level cracks.

Nevertheless, the downtrend will resume if the $39 low is broken which will catapult the coin to $36 low. However, the price is fluctuating below the $42 where the possibility of a rebound is very slim. More so, Litecoin lacks buyers at  higher price levels. On the upside, if the bulls break above $44 and the upward move is sustained, Litecoin will reach the high of $50.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
The Relative Strength Index period 14 levels 45 indicates that price is in a range bound zone. The RSI is also below the centerline 50 which indicates that the coin is likely to fall. The 21-day SMA and the 50-day SMA are sloping southward indicating the downward move. The price breaks above the 21-day SMA but fail to break the 50-day SMA. A break above SMAs will enable the coin to rise.

LTC/USD Medium-term bias: Bearish
On the 4-hour chart, the coin fell to a low of $36 and commenced a bullish move. The bulls reached a high of $44. However, after a retest at the $44, LTC fell and broke below $42 support. The downward move is likely because price retested the low at $42 before falling again.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading

Litecoin has fallen below 20% of the daily stochastic. The blue and red bands are making a U-turn in the oversold region of the market. It indicates that the bearish momentum is likely to turn bullish. The 21-day and 50-day SMAs are trending upward indicating that price is rising.

General Outlook for LTC
Litecoin has fallen below $42 after a price rejection at $44. The pair may continue the downward move if the selling pressure persists. Possibly, the coin will revisit the previous low at $36. Meanwhile, for the upward move to commence, Litecoin will break above the EMAs for the price to rise. Nevertheless, if the price breaks below the support line and closes, the selling pressure will resume.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy Limit
Entry price: $40
Stop: $30
Target: $50

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Litecoin (LTC) Surges Higher Amid Sleepy Market

Updated:

Key Resistance Levels: $70, $80, $90

Key Support Levels: $50, $30, $10

 

LTC/USD Price Long-term Trend: Bearish
Litecoin is in a bear market as the coin recovered from its last bearish move. On December 18, the coin sank to the low of $36 and moved up. LTC moves up to the high of $43 and faces another selling pressure. Litecoin fell to $40 low and it is moving up again. On the upside, a break above the $43 will drive the coin to the high of $50. Meanwhile, if the bulls fail to break the current resistance, the coin will resume its fluctuations below it.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
The stochastic indicator is above 50% range. This implies that Litecoin is in a bullish momentum. The coin is expected to rise to the previous highs. Nevertheless, if the bulls break above the 21-day and 50-day SMAs, LTC will resume its uptrend move.

LTC/USD Medium-term bias: Bearish
On the 4-hour chart, the bears broke the $43 support and slumped to another low of $36. The current low was well supported as the coin moves up to retest the $43. After the retest, the coin fell to another low to resume another bullish move.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
The 21-day and 50-day SMAs are trending upward indicating that price is rising. The Relative Strength Index period 14 level 50 is  indicating that price is approaching the bullish trend zone. On the upside, if price breaks and closes above the resistance line, LTC will reach a high of $50. On the downside, LTC will fall again if the support line is broken.

General Outlook for LTC
Litecoin is still in the bearish trend zone despite the bullish move to the previous highs. The buying power is weak at the lower price levels. However, if the current bullish momentum is sustained, Litecoin will rise to the previous highs. Meanwhile, the breaking of the $43 resistance level will determine the coin upward move.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy
Entry price: $41
Stop: $30
Target: $50

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Litecoin (LTC) Price Analysis – Amidst Bearish Sentiment: Litecoin Posing For Positive Move

Updated:

The weekly bearish volatility has continued to become notable for some days now but it may suspend soon. A weekly short opening at $44 now makes Litecoin record a daily low of $36. With -4.47% losses, Litecoin is currently the sixth-largest cryptocurrency by market cap. We can expect more positive move if the bullish pattern on the 30- minutes plays out.

Litecoin (LTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $40, $42, $45
Key support levels: $35, $33, $31

The daily chart for Litecoin shows that the market continues to aim the channel’s lower boundary, though the bearish scenario is likely to end soon. Meanwhile, there’s still a room for a more southward move as $35, $33 and $31support may be explored in the next few days. Taking a look at the RSI indicator, we can see that the market has entered the oversold region, which means the current price of is undervalued.

LTCUSD-Daily-Chart-December-18

Additionally, the MACD signalled a negative price action as momentum turns sideways. This means that the LTC market is indecisive at the moment. If the buyers show commitment, we may see a small buying pressure to $40 resistance. A continuous increase could allow us to test $42 and $45 resistance again. As of now, the bears are currently dominating the market.

Litecoin (LTC) Price Analysis: 30M Chart – Bearish

Litecoin is still trending bearishly on the 30-minutes time frame. But looking at the recent rejection at $36, the bulls are likely to step back into the market. We can see that Litecoin is brewing for a bullish surge. The white descending line seems to be suppressing the buying pressure. A successful climb could walk the buyers to $39, followed by $41 and $43 resistance.

LTCUSD, 30M Chart – December 18

Interestingly, the technical indicators are gaining recovery to the positive zone, though the MACD and RSI are yet to provide a crossover for bullish confirmation. In the opposite direction, Litecoin may keep rolling downward if the price action continues to respect the descending trend line. If such a scenario occurs, LTC may drop back to $36 and $35 support. The bearish trend would remain valid until buyers take control of the market.

LITECOIN BUY SIGNAL
Buy Entry: $37.7
TP: $40 / $42
SL: 35.9

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Michael Fasogbon is a professional Forex trader and cryptocurrency technical analyst with over five years of trading experience. Years back, he became passionate about blockchain technology and cryptocurrency through his sister and has since been following the market wave.

Litecoin (LTC) Plunges to a New Low, a Rally Is Expected

Updated:

Key Resistance Levels: $70, $80, $90
Key Support Levels: $50, $30, $10

LTC/USD Price Long-term Trend: Bearish
In the last sideways trend, Litecoin was fluctuating between the levels of $42 and $50.On December 16, the bears broke the $42 support level and resumed a downtrend. The previous sideways trend has been terminated as Litecoin falls to a low of $39 and consolidates.

After consolidation, the selling pressure may continue as the market is expected to reach a low of $32 or $36 price level. As the market reaches the low of $32, the coin will be  reaching the oversold region and buyers may likely emerge. In other words, the coin may hold at the $32 support level.

LTC/USD - Daily Chart

Daily Chart Indicators Reading:
The MACD line and the signal line are below the zero line indicating that Litecoin is a sell signal. As price breaks the support line of the horizontal channel, it indicates that the selling pressure has resumed. The simple moving averages are pointing southward indicating the downward move.

LTC/USD Medium-term bias: Bearish
On the 4-hour chart, the bears have broken the sideways trend as the coin nosedived to the low of $39. At the low of $39, small body candlesticks are forming indicating that the price is consolidating. Prior to the time of price break down, the bears are at the edge of the support attempting to break the level. However, after consolidation, the coin may further depreciate.

LTC/USD - 4 Hour Chart

4-hour Chart Indicators Reading
Litecoin has fallen below the 20% range of the daily stochastic indicating that the coin is in a strong bearish momentum. That is, at the low of $39, Litecoin may further depreciate.

General Outlook for MKR
Litecoin is out of the sideways trend as the coin resumes a downward move. The coin is consolidating after the price breakdown. LTC is approaching the next support at $36 or $32 price level. Nevertheless, if the coin reaches the low of $32, Litecoin may hold rebound.

LTC Trade Signal
Instrument: LTC/USD
Order: Buy Limit
Entry price: $36
Stop: $30
Target: $60

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Litecoin (LTC) Price Analysis – Litecoin Forms New Bearish Pattern, Can A Counter-Reaction Occur?

Updated:

Since December 1, the value of Litecoin has substantially depreciated, losing almost 10% from its monthly opening price. As of now, LTC trades at $43.7 after dropping from a daily high of $44. Litecoin is currently the 6th best-performing cryptocurrency with a market cap of $2.7 billion which is quite low compared to when it was trading above $5 billion a few months back. We can see a price recovery as soon as buyers step back into the market.

Litecoin (LTC) Price Analysis: 2H Chart – Bearish

Key resistance levels: $45, $46, $47
Key support levels: $43, $42, $41

Litecoin is currently on a downward range, though the market has been trading below $45 for the past four days now. The recent price rejection at $44 is likely to cause a serious selling pressure in the market as $43 support may be explored soon. It may even get uglier if the LTC supplies below the descending wedge, reaching $42 and $41 support in no time.

LTCUSD, 2H Chart – December 13

Reclaiming $45 could be a bit tough for the buyers. But if they push through price to the upper boundary of the wedge, we can expect further buying at $46 and $47 resistance. Litecoin has shown a sign of small recovery in the technical indicators. A bullish move would confirm as soon as the MACD and RSI cross their immediate resistance. As of now, the downtrend remains significant on the 2-hours time frame.

Litecoin (LTC) Price Analysis: 30M Chart – Bearish

The 30-minutes chart for Litecoin shows that the market has continued to respect the white regression line drawn from December 9. Minutes ago, LTC got rejected again at the white line after a small correction to $44. Following the latest bearish formation, a possible sell is likely to $43 support, where the LTC is currently relying on.

LTCUSD, 30M Chart – December 13

A fresh weekly low could print at $42 if the current support dips. As revealed on the technical indicators, Litecoin is nearing towards the oversold region. If the buyers can counter the current bearish setup, the market could climb back to $44 with a potential break to $45 resistance. Notwithstanding, the bears are still gaining control of the market.

LITECOIN BUY SIGNAL
Buy Entry: $44.5
TP: $46
SL: $43

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Michael Fasogbon is a professional Forex trader and cryptocurrency technical analyst with over five years of trading experience. Years back, he became passionate about blockchain technology and cryptocurrency through his sister and has since been following the market wave.

Litecoin (LTC) Upward Move Uncertain Amidst Heavy Selling Pressure

Updated:

Key Resistance Levels: $70, $60, $50
Key Support Levels: $50, $40, $30

LTC/USD Price Long-term Trend: Ranging
Today, Litecoin is consolidating above $44 after falling to a low of $42. In retrospect, the bearish impulse in September reached the low of $55 and commenced a sideways move. The price corrected upward but was resisted at $65. This resistance led Litecoin to fall to the present support at $44. As the market is consolidating, there is a tendency for price to rebound. On the other hand, the selling pressure may as well continue. Litecoin may suffer further depreciation if the current low at $42 is breached. However, Litecoin can as well rebound if the current low at $42 holds.

LTCUSD-Daily Chart

Daily Chart Indicators Reading:
In October, the bulls break the downtrend line and closed above it. By implication of this breakout, the bearish trend is presumed to be over. However, the bullish breakout was short-lived as the price was resisted at $65. The coin was under fresh selling as it fell to the current low.

LTC/USD Medium-term bias: Ranging
On the 4-hour chart, the bear market is now a sideways trend. The coin is fluctuating between the levels of $42 and $50. The bears have been testing the support level on more than five occasions to break it but to no avail. The coin will fall to a low of $36 if the bears succeed in breaking the support at $42.

LTCUSD - 4 Hour Chart

4-hour Chart Indicators Reading
The MACD line and the signal line are still below the zero line. This indicates that the coin is a sell signal. The 21-day SMA and the 50-SMA are sloping horizontally indicating that the coin is in a sideways trend.

General Outlook for LTC
Litecoin is in a sideways trend. The coin will fluctuate for a few more days as the coin is encountering low volatility. The coin may experience a breakout or a breakdown if the market encounters high volatility. Traders should look out to buy set up as the market is approaching the oversold region.

LTC Trade Signal
Instrument: LTCUSD
Order: Buy Limit
Entry price: $42
Stop: $35
Target: $66

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.