Connect with us

Litecoin

Litecoin price analysis: LTC/USD threatens to break $25.00

Published

on

  • Abnormal transacion volume detected in Litecoin’s network.
  • LTC/USD needs to recover above $30.00.

Litecoin quietly slipped to the place in the global cryptocurrency rating as the coins’ capitalization reduced to $1.5B. LTC/USD is changing hands at $25.92, off the early Asian high of $25.13. The coin is down 11% since this time of Thursday moving in sync with global cryptocurrencies.

Interestingly, Litecoin whale activity was registered at the end of November, when someone transferred over 12 million Litecoins. The total trading volume catapulted to $1.1B, which is ten times more than the average daily figures of about $100M. All in all, approximately 35 million coins or 60% of total Litecoin issuance were transferred in a single day.

While this anomaly had little effect on Litecoin’s price, it bodes well with the whales’ activity in other coins like Ethereum and Bitcoin. In Ether, whales’ holdings increased by 80% in November, while Bitcoin large investors have been stirring the market with large transactions for quite a while.

Litecoin’s technical picture

On the intraday level, LTC/USD managed to recover above SMA5 (1-hour); however, we need to see the price growth at least above $30.00 to get some technical improvement. This level is guarded by SMA100 (1-hour) and followed by SMA200 at $31.67.

On the downside, a sustainable move below $25.00 will send the coin in the tailspin with the next aim at $23.43 (the lowest level since June 2017) and to $20.00.

LTC/USD, 1-hour

Source: fxstreet

Advertisement

Litecoin

Litecoin Forecast and Analysis May 20 — 24, 2019

Published

on

Litecoin LTC/USD ends the trading week at 86.37 and continues to move through the growth and upward channel. Moving averages indicate a bullish trend. At the moment, we can expect an attempt to test the support area near the level of 73.05. Where can we expect a rebound again and an attempt to continue growth on Litecoin with a potential target above the level of 125.55.

Litecoin Forecast and Analysis May 20 — 24, 2019

An additional signal in favor of the growth of LTC/USD quotes in the current trading week of May 20 — 24, 2019 will be the support line test on the relative strength index (RSI). The second signal will also be a rebound from the lower boundary of the rising channel. Cancellation of the litecoin decline option will be a strong growth and a breakdown of the 62.55 area. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in LTC/USD. Confirmation of the growth of cryptocurrency will be a breakdown of the upper boundary of the downward channel and closing of quotations above the level of 105.55.

Litecoin Forecast and Analysis May 20 — 24, 2019

Litecoin Forecast and Analysis May 20 — 24, 2019 implies an attempt to test the support area near the level of 73.05. Then continued growth in the region above the level of 125.55. An additional signal in favor of the rise of Litecoin will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be the fall and the breakdown of the area of ​​62.55. This will indicate a continued decline in cryptocurrency with a target below the level of 45.50.

-News Source

Continue Reading

Bitcoin

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC bulls bellow past $7,900 mark as LTC recoils

Published

on

Bitcoin rallied past $8,000 last week and showed good resilience in maintaining its bullish momentum. Bitcoin was priced at $7,915.81 with a market cap of $140.18 billion and registered $23.46 billion in 24-hour trading volume.

Litecoin stood fifth in the list of top-10 cryptocurrencies with a market cap of $5.71 billion and $3.98 billion in 24-hour trading volume. The coin was priced at $92.46, at press time.

1-Day BTC

Source: TradingView

The one-day BTC chart showed that there was an uptrend from $4,008.79 to $8,195.17. The chart specified that the resistance lines stood at $7,307.15, $6,444.50 and $5,505.74 and there were two support lines at $3,755.01 and $3,171.51.

Moving Average Convergence Divergence [MACD] indicator pointed at a bullish crossover.

Parabolic SAR indicator displayed a bullish trend as the dotted markers were below the candles.

Relative Strength Indicator indicated a bullish trend as the market was in the overbought zone. However, a correction seemed to be in the offing.

1-Day LTC

Source: TradingView
The one-day chart of LTC showed two uptrends. The first was from $42.23 to $91.40 and the second was from $91.40 to $102.85. The resistance line stood at $102.52 and the supports were present at $60.58 and $32.06.

Bollinger Bands exhibited a high rate of volatility in the market.

The Awesome Oscillator indicated a bullish buying opportunity in the LTC market as the short-term momentum was greater than the long-term momentum.

Chaikin Money Flow chart was below the zero-line, indicating that money flowing out of the market.

Continue Reading

Litecoin

Litecoin (LTC/USD) forecast and analysis on May 19, 2019

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 88.89. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.

Litecoin (LTC/USD) forecast and analysis on May 19, 2019

As part of the Litecoin course forecast, a test of 85.20 is expected. Where can we expect an attempt to continue the growth of LTC/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 103.50. The conservative area for buying of Litecoin is located near the lower border of the Bollinger Bands indicator strip at level 82.50.

Litecoin (LTC/USD) forecast and analysis on May 19, 2019

Cancellation of the option to continue the growth of the Litecoin exchange rate will be a breakdown of the lower limit of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotes pair below 80.20 area. This will indicate a change in the current trend in favor of the bearish for LTC/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on May 19, 2019 implies a test level of 85.20. Further growth is expected to continue to the area above the level of 103.50. The conservative area for buying Litecoin is located area of 82.50. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 80.20. In this case, we should expect the continuation of the fall.

-News Source

Continue Reading
Advertisement
Advertisement
Open

Close