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Thread: Litecoin Analysis

  1. #16
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    Litecoin Rally Slows Down


    The rally in LTC prices hasn’t died yet but it has slowed down considerably. We are currently quoted at $70.85 dollars per coin, up from $69.08 last week. In percentage terms, this is only 2.6%.



    The bullish trend will remain in place until we get a decisive break below the $60.55 swing low. Due to the proximity of the $60 round figure, players that want to stay in a bit longer may use that level as exit instead. It should provide some support to falling prices. Similarly to BTC, on the weekly and monthly charts, LTC/USD is still looking bullish.

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    Source: FXOpen company blog

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    Little Change in Litecoin Prices

    Similarly to bitcoin, we’re seeing little change in the price of LTC/USD this week. The altcoin is only down by $1.7 dollars or 3.1 percent since last Tuesday. This is a negligible amount in the volatile cryptocurrency world. The lack of news from China certainly helped to calm things down a bit.



    Litecoin remains in a downtrend as well. A break above the $57.28 swing high is needed to end it. A move beyond $82.91 dollars per coin could re-start the rally. Support on the way down can be found at the $50 round figure, followed by the $44.47 and $40.74 swing lows. A break below the $40 round figure could open the door to the crash lows at $32.35 dollars. On the weekly charts, LTC/USD is range-bound. The monthly chart is still showing a bullish bias.

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    Source: FXOpen blog

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    The recovery in litecoin has been very weak. The pullback could not even reach the 50% Fibonacci retracement levels of the fall from $93.649 to $32.681. This shows lack of buying in the digital currency.

    Litecoin has been range bound between $44.160 and $57.729 for the past few days. A breakout of the range can push the digital currency towards its pattern target of $71. Therefore, traders can buy on a breakout above $58 and keep a SL of $50.

    On the other hand, if the cryptocurrency fails to breakout of the range, it is likely to fall back towards the $44 levels once again. Therefore, traders should either buy at the lower end of the range or buy after the breakout.

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    Litecoin Slightly Down

    Despite the gains in BTC, Litecoin traded slightly down this week. We’re currently quoted at $51.55 dollars per coin, down by $1.16 since last Tuesday. In percentage terms, this is 2.2%.



    While LTC/USD briefly peaked above the $57.28 swing high, the move higher ended at $57.32. This means that the downtrend is still in place. As usual with these levels, we’re looking for a decisive breakout, not just a quick and shallow spike.

    The double top at $57.28 – $57.32 is now the now key level to watch. A breakout above here would end the bear market on the daily charts. A move higher up above $63 dollars would start a new rally in prices.

    We have potential support on the way down at the $50 round figure, followed by the $44.47 and $40.74 swing lows. A break below the $40 round figure could open the door to the crash lows at $32.35 dollars. On the weekly charts, LTC/USD is still in range. The monthly chart is looking bullish.

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    Source: FXOpen blog

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    Litecoin Still in Downtrend

    While LTC/USD hasn’t lost much ground vs the USD, it hasn’t gained ground either. This means that we still haven’t broken the important resistance at $57.32 dollars. As we mentioned last week, this level is the new number to watch. A decisive break above here would both end the downtrend and start a new rally.



    Below current pricesб we find weak support at the $50 round figure, followed by another weak support at yesterday’s low of $47.85. A stronger level can be found at the $44.47 swing low, followed by the $40 round figure and another swing low at $38.11 dollars per coin. Last month’s spike low at $32.35 dollars is another notable support level. The weekly chart for LTC/USD doesn’t show a clear trend. The monthly is still looking bullish.

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    Source: FXOpen blog

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    really it is go to 44$ wow

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    Litecoin Joins the Party

    After a prolonged downtrend Litecoin finally joined big brother in an uptrend. Prices broke above the key $57.32 resistance on October 12th and proceeded to hit a high of $70.26 before stabilizing somewhat. Similarly to BTC, the last few days in LTC/USD have been mostly range-bound consolidation. Litecoin is trading at $61.14 dollars right now, over 13 percent off the recent highs.



    Support below here can be found at the former swing lows at $60.55. These are followed by a much stronger support level at the $57.32 breakout point. Lower still we have the $50 round figure as potential support. A break below the $47.85 dollars swing low would both end the current uptrend and start a new downtrend.

    On the higher end, we find resistance near the $70 round figure at the most recent swing high of $70.26, followed by $72.36 dollars. Higher still we have a weaker level at the $80 round figure and the $82.91 swing high. On the top side we end the important levels with the all-time high at $93.60 dollars per coin. On the long-term charts we have a mixed picture. While the weekly is still range-bound, the monthly is in rally mode.

    Source: FXOpen blog
    Last edited by nicotien; 10-18-2017 at 10:22 PM.

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    Litecoin Follows Big Brother

    To a smaller extent, LTC/USD followed the patterns seen in BTC/USD. However litecoin was under pressure versus bitcoin because people converted to BTC to get the ‘free dividend’. This meant that LTC/USD topped out days before BTC/USD on October 15th. From here it was a slow slide down, interrupted by bitcoin-inspired rallies.



    Now we are seeing a reversal of these money flows. As you can see on the chart above, today’s candle in LTC/USD is bullish versus the bearish candle in BTC/USD. We are currently trading at $57.30 dollars per coin. A break below the $51.11 swing low is needed to definitely end the current rally on the daily charts. On the weekly charts LTC/USD is still range-bound but the monthly is in an uptrend.

    Source: FXOpen blog

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    Litecoin Stays Flat

    While naturally helped by bitcoin gains, LTC/USD stayed flat today. Part of the reason could be traders positioning themselves for the next bitcoin fork on November 16th. In the two prior forks, we saw a rush of money away from alts and into BTC.



    As can you see on the picture above, Litecoin has been trading mostly flat for the past two weeks. A break below the $51.11 swing low is needed to put a definitive end to the current uptrend. Just below here we find strong support at the $50 round figure. A decisive breakdown below here could start a new downtrend. On the weekly charts, LTC/USD remains range-bound but the monthly is still looking bullish.

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    Source: FXOpen blog
    Last edited by nicotien; 11-01-2017 at 09:34 PM.

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    Litecoin Breakout Fails

    Litecoin initially broke out from its range, only to fall back in two days later. While prices are higher, to call a new rally we need to see a sustained move above the new swing high at $66.69 dollars.



    On the lower end, the bears need a breakdown below the $53.25 swing low. This could start a new downtrend in LTC prices. There is no change in trend on the longer-term charts. The weekly is still range-bound while the monthly is looking bullish.

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    Source: FXOpen blog
    Last edited by nicotien; 11-14-2017 at 09:04 PM.

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    Litecoin Finally Breaks Out

    Litecoin finally managed to stage a successful breakout. After last week’s failed push higher the bulls gave it another try and this time they made it. We got a clean breakout above the new swing high at $66.69 dollars per coin, thereby starting a new uptrend on the dailies.



    In the aftermath of the tether hack news a low of $67.51 was hit, almost re-testing the breakout point. But similarly to BTC/USD here too the lows were quickly bought up. We are currently quoted at $71.60, only $1.68 dollars from the most recent highs. Resistance higher up can be found at $73.28 followed by the $82.91 swing high and the all-time high at $93.60. The $100 round figure is another notable resistance level.

    On the lower end the bears need a break below $55.58 dollars to end the current uptrend. A move below $49 dollars could start a new downtrend. No change on the long-term charts for LTC/USD. The weekly is still range-bound while the monthly is in rally mode.

    Source: FXOpen blog
    Last edited by nicotien; 11-22-2017 at 08:19 PM.

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    Litecoin at New All-time High

    Litecoin prices hit a new all-time high of $99,62 dollars, surpassing the previous high at $93,60 dollars. We are currently trading a bit below here at $96,29 dollars per coin.



    Similarly to bitcoin, LTC/USD remains in an uptrend. In order to end it we need to see a clearing of the area around the $66.69 level. Here we have the former swing high at $66.69 and the swing low at $67.51 dollars. A decisive breakdown below here could open the door to the the next support area around $60 dollars. A new downtrend needs a break of the $55.58 swing low.

    Like the $10,000 mark in bitcoin, the $100 round figure is a psychological level that may be used for profit taking by some market participants. On the longer-term charts litecoin is now in rally mode on both the weekly and the monthly charts.

    Source: FXOpen blog

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    Litecoin Also at New All-Time Highs

    Litecoin prices are near all-time highs as well, after peaking at $105.30 two days ago. We are currently trading just below the $100 round figure.



    Litecoin is still in an uptrend here. To end the rally on the daily charts the bears will have to push LTC/USD below the $73.03 swing low. Support below here can be found at the area around the $66.69 level. Here we have the former swing high at $66.69 and the swing low at $67.51 dollars. A decisive breakdown below here could start a new LTC downtrend.

    On the upside, we have weak resistance around the $100 round figure, followed by more resistance at the $105.30 all-time high. Similarly to BTC, litecoin is looking bullish on both the weekly and monthly timeframes.

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    Source: FXOpen blog

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    Litecoin Prices Skyrocket



    Read more about Litecoin in our blog post for December 13, 2017.

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    Litecoin Trades Lower

    During the large BTC correction last week litecoin followed bitcoin lower and hit a low of $162.22 dollars per coin last Friday. Then we saw a recovery to $291 dollars, followed by a secondary drop to $222 dollars. Since then we’ve been somewhat stuck in a trading wedge with no major market movements.



    The sharp drop from the highs at $370 to $162 dollars (total $208 dollars or 56%) didn’t end the rally. The threshold to do that is now set at $162 and a break below this swing low should end the uptrend on the daily charts. On the weekly and monthly charts, LTC/USD remains in bullish mode.

    Resistance above current prices can be found at the $291 swing high followed by the $300 round figure and the all-time high at $370 dollars. On the lower end, we have support at $245, $222 and $200 dollars per coin. Further down we have an important level at $162 dollars. Like we said above a break below here could end the current rally. A breakdown below the $88 swing low would start a new downtrend in prices.

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    Last edited by Anrakitori; 12-28-2017 at 01:09 PM.

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