Litecoin (LTC) Price Analysis – Triangle Breakout Slips LTC Towards $50 Amidst Intraday Consolidation

Following last Friday’s massive buy from $47, Litecoin is now consolidating at $57.8 after recording $64 as the monthly high. The current squeeze was resulted by a low amount of trading volume. Meanwhile, Litecoin is bearish on a long-term but the last seven days of trading has allowed the price to trade above $55. However, we may continue to see an upsurge if the bulls can remain active in the market. With -2.66% losses, LTC remains the sixth-largest cryptocurrency on the market cap

Litecoin (LTC) Price Analysis: Daily Chart – Neutral

Key resistance levels: $64, $72, $80
Key support levels: $52, $47, $40

Litecoin is currently consolidating on the daily chart. Knowing that the market is under long-term bearish control, short-traders are trapped for the past 5 days as the October 25 sudden price increase gave the bulls a sigh of relief. For a bullish continuation, LTC may test the $64 before rising higher to the horizontal resistance (yellow) at $72 and $80. Rise above the horizontal line is a mid-term bullish confirmation.

LTCUSD, Daily Price Chart – October 30

Alternatively, a bullish trap may occur if LTC plummets straight back to the previous support at $52 and $47 and at the same time bringing trade back inside the descending wedge formation. Further support lies at $40. Litecoin is now testing the MACD signal level. A crossover should provide enough strength for the market to go bullish. The RSI is currently waiting at the 50 levels but it may further rise if the level can bolster as support.

Litecoin (LTC) Price Analysis: Hourly Chart – Bearish

Longing Litecoin at this moment could be a wrong position for short-term trader following the latest price break-down on the triangle formation. The ongoing selling pressure may cause Litecoin to fall at $55 and $50 if the supply becomes heavy. However, a false move may turn the bulls back active. Such a move may be unrealistic at the moment, although the market may as well be unpredictable too.

LTCUSD, Hourly Price Chart – October 30

However, resistance to watch out for is $60 and $64 before we can see a further rise. As of now, the MACD has slightly crossed to the negative to show that Litecoin is weakening on the hourly chart. The RSI is currently at the 38 levels, revealing that the sellers are in the market.

LITECOIN SELL SIGNAL
Buy Entry: $57.9
TP: $55/$50
SL: $62

Litecoin (LTC) Price Analysis: LTC Corrects Gain After Rebounding From Channel Support

Litecoin has seen a price gain of +0.57% in the last 24-hours, correcting to $50 at the moment. The recent bearish shock-wave is still affecting the market as the key resistance holds at $52-$53 price zones. Meanwhile, the crypto trading signals a low trading volume which is now above $2 billion with a market cap of $3.1 billion. At the time of writing, LTC demand is slowly rising but remains under bearish control on s long-term.

Litecoin (LTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $55, $60, $78
Key support levels: $47, $43, $40

The daily outlook for Litecoin is dominantly following a bearish bias as the market subdues with price actions. The bears are currently running out of momentum on the intraday trading. Following the October 23 price dump to $47, Litecoin is now recovering towards the wedge’s upper boundary at $55. The market is currently supported by the RSI 50 – correspond with the $47 support.

LTCUSD, Daily Chart – October 25

We may see next support at $45, $43 and $40 if $47 fails to contain selling pressure. Looking at the MACD, the crypto trading signals that the LTC market is still bearish at the moment. A positive cross may trigger a sharp rise above the wedge formation to $60 and $78 in no time. But as of now, the bears are in play.

Litecoin (LTC) Price Analysis: 4H Chart – Bearish

Since October 8, Litecoin is maintaining a bearish bias on the 4-hour chart. The price recently fell to the channel’s support $47 after a massive decline but has now bounced off to $50. Despite the slight correction, the bears are still considered to be in control of the market. However, the retracement move is expected to reach the channel’s upper boundary at $52. As we can see, the RSI is rebounding toward the 50 levels.

LTCUSD, 4H Chart – October 25

The MACD has switched to the negative, showing that the bears have assumed control of the market. However, the ongoing price increase has kept the bears in suspense. Resuming pressure might swing the market back to the channel’s support. For now, Litecoin is holding support at $47.

LITECOIN BUY SIGNAL
Buy Entry: $50
TP: $53
SL: $61

Litecoin (LTC) Price Analysis: Short-Term Bearish Move Signals Incoming Sell-Off For Litecoin

The bears have continued to extend their stay in the market as Litecoin trades below the $60 which was rejected on October 9. At the same time, the latest price drop is keeping the market in a bearish condition. We can expect the bulls to gain control of the market if the crypto trading signals a break above the short-term resistance. However, Litecoin is down by -2.04% over the last few hours with a more bearish outlook.

Litecoin (LTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $57, $60, $63, $70
Key support levels: $50, $47, $43, $40

Litecoin’s volatility is fading away on the daily chart as price surge lurks around on the descending wedge pattern. As it appeared now, Litecoin is at the verge of rolling over to the wedge’s support but the price slowly drops. We can expect the price to slip at $50, $47, $43 and $40 support as soon as the selling pressure trigger heavily.

LTCUSD, Daily Chart – October 17

As we can see, the technical indicators are still hovering around their negative zone. Pushing through the mid-level could sense a bullish move for the LTC/USD pair, bringing the market to $57 and $50 resistance before we can see a price break to $63 and $70. But it is now, the crypto trading signals that the bears are still present.

Litecoin (LTC) Price Analysis: Hourly Chart – Bearish

The weekly short opening has made the Litecoin’s price to following a bearish scenario on the 4-hour chart as the trading shapes inside a descending channel pattern. After rebounding at the channel support, the price is now nearing the channel’s resistance, where rejection is likely to play out.

LTCUSD, Hourly Chart – October 17

We can expect a price fall to $52 shortly. Meanwhile, the RSI has seen a bullish climb. If the crypto trading signals a cross above the MACD zero level, the price LTC could hit $55 and $57 resistance. For now, a bearish continuation is more likely to play out.

LITECOIN SELL SIGNAL
Sell Entry: $54
TP: $51
SL: $55

LTC Now Facing Key Resistance After Gaining 10% In Two Weeks

Litecoin (LTC) Price Analysis – October 10

Litecon’s price has managed to produce +10% gain over the last few days after relying on the $50, although the price movement has been recently sluggish. Despite the low volatility, LTC is currently correcting gain of +1.53%. It will be interesting to see a significant bullish break at $60 if traders can show a strong commitment to buying. Technically, that may seem difficult at the moment. Should breakout materialize, the 6th largest cryptocurrency could skyrocket.

Litecoin (LTC) Price Analysis: Daily Chart – Bearish

Key resistance levels: $62, $67, $70, $78
Key support levels: $54, $50, $47, $43

Following the last 15 days of price variations, Litecoin is considered bullish on the daily chart but its trend has remained in a downward range since June 22 bearish reversal. Now, the price of LTC is subdued in the descending wedge formation with a potential break – which is mostly to the upside for this pattern. A clear wedge’s break-up should produce a strong buy to $67, $70 and $78 after leaving $62 resistance.

LTCUSD-Daily-Chart-October-10

Litecoin may sell back to the September low at $54 and $50 if the price actions keep respecting the wedge formation. The $47 and $43 may further act as lower support. The crypto trading signals a bullish regroup near the RSI 50 – reflecting the past days of buying pressure. Stochastic RSI suggests a bullish momentum but has now reached an overvalued area, which means the sellers might be around the corner.

Litecoin (LTC) Price Analysis: Hourly Chart – Bullish

The LTC/USD pair looks bullish on the hourly time frame. Looking at the ascending wedge (green) that forms inside the channel pattern (white), a potential bearish play is at hand at the moment. A double-top formation is likely at $60 before rolling over to $57 and $55 support. Conversely, the RSI is currently testing the 50 level as the further low drive could make the market oversold.

LTCUSD-Hourly-Chart-October-10

As we can see, the crypto trading signals that Litecoin is trading conveniently in the oversold area of the Stochastic RSI. In case of a bullish crossover, we can expect the market to keep rising at key resistance. However, $62 resistance may be tested if the buyers can continue to sustain pressure in the market. At the moment, the bulls are still showing strength inside the channel formation

LITECOIN SELL SIGNAL
Sell Entry: $59.5
TP: $55
SL: $61