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 (LTC): Will 100-day SMA hold ground?

Published

on

  • Litecoin rises 3.22% on the day to become the market leader on Friday.
  • Litecoin is still holding onto the 4th position on CoinMarketCap.

Litecoin has recovered slightly from the intraday low at $41.3448. Besides, the entire market is generally in the green. Litecoin has added 3.22% to its value to exchange hands at $42.61.

The trading volumes have been decreasing since the ballistic rise on February 8 where Litecoin rose 30% from the low around $32.00. From monthly highs around $1.7 billion the trading volume is back below the 1 billion mark. While the same decline has been witnessed in its market capitalization, Litecoin is still holding onto the 4th position on CoinMarketCap with a market share of $2.5 billion.

Litecoin is immediately supported by the 2-hour 100-day Simple Moving Average (SMA) which also coincides with the 61.8% Fib retracement level (confluence). On the upside, the 50-day SMA is capping gains at $42.73. There will be more resistance at $44 as well as the supply zone seen at $47.00.

Indicators on the chart are still positive but Litecoin is likely to continue sideways in the short-term. The Relative Strength Index (RSI) is horizontal at 58.36 after recovering from levels close to the oversold levels. The Moving Average Convergence Divergence (MACD) is almost crossing back above the mean line into the positive zone to show that the bulls are gaining traction against the bears.

LTC/USD 2-hour chart 

News Source:

Continue Reading

Litecoin

LTC/USD: Price sits on $41.50 support line as market breakout is on the horizon

Published

on

  • LTC/USD currently sits on the $41.50 support line as bears dominate the market in the last two days.
  • Technical analysis shows that a price breakout is on the horizon.

LTC/USD market is currently sitting on top of the $41.50 support line. The bulls need to buckle up because technical analysis shows that a breakout is on the horizon.

LTC/USD daily chart

  • The LTC/USD bears have broken past the $41.50 support line.
  • The moving average convergence/divergence (MACD) histogram shows that the market’s overall bullish sentiment is reversing its trend. 

LTC/USD 4-hour chart

  • LTC/USD 4-hour market forms multiple bearish flags ripe for a breakout.

LTC/USD hourly chart

  • LTC/USD hourly chart shows that the bulls are trying to fight back.
  • The market is trending along the 20-day simple moving average (SMA 20) curve.

Key Levels

  • Resistance 3: $44.5394
  • Resistance 2: $43.4894
  • Resistance 1: $42.4348
  • Pivot Point: $41.3848
  • Support 1: $40.3302
  • Support 2: $39.2802
  • Support 3: $38.2257
Continue Reading

Litecoin

Litecoin (LTC/USD) forecast and analysis on February 15, 2019

Published

on

Cryptocurrency Litecoin (LTC/USD) is trading at 41.28. 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 lower border of the Bollinger Bands indicator bands.

Litecoin (LTC/USD) forecast and analysis on February 15, 2019

As part of the Litecoin course forecast, a test level of 39.80 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 47.20. The conservative Litecoin buying area is located near the lower border of the Bollinger Bands indicator bars at 39.60.

Litecoin (LTC/USD) forecast and analysis on February 15, 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 the moving average with a period of 55 and closing quotes pair below the area of ​​37.20. 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 bands, one should expect an acceleration of the fall of the cryptocurrency.

Litecoin (LTC/USD) forecast and analysis on February 15, 2019 implies a test level of 39.80. Further, growth is expected to continue to the area above the level of 47.20. The conservative area for buying Litecoin is located area of 39.60. The cancellation of the growth option of cryptocurrency will be the breakdown of the level of 37.20. In this case, we should expect the continuation of the fall.

News Source:

Continue Reading
Advertisement
Advertisement
Open

Close