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Litecoin [LTC] Price Analysis: Token’s value collapses 1.05% despite bullish inkling

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The former fourth-largest coin on the CoinMarketCap, Litcoin [LTC], slipped a spot lower, succumbing to EOS’ price spike in price. Currently, LTC sits at the fifth position, after putting on a major show last weekend.

The price of the silver coin climbed to $44.51, transcending previous resistance during the early hours of February 13. Later the same day, the coin’s valuation fell near the support zone of $42.10.

The price recorded for the previous day opened at $43.17 climbing to $44.14. The low registered for the day was at $42.54 before closing at $43.94. The volume of the digital coin traded during the day accounted for $1.09 million.

The pair LTC/BTC led the queue at DOBI Exchange at $42.69, sweeping a volume $60.30 million being traded during the last 24 hours. Coineal stood next with a volume of $54.52 million being traded across the exchange at a value of $42.68. This was followed by OKEx trending third at a volume of $42.72 million at a valuation of $42.68.

At the time of writing, Litecoin was trading at a market cap of $2.58 billion with a value of $42.80. The circulation volume accounted for $1.08 billion. A decline of 1.05% was exhibited by the silver coin over the day.

1-hour

Source: TradingView

An upward trend from $33.55 to $43.30 and a downtrend from $46.57 to $43.31 had been recorded by the coin in the hourly chart. The resistance is marked at $43.72 and support is at $41.02.

Bollinger Bands: The BB indicator shows a slight expansion. This predicts an odds-on price fluctuation of the coin.

MACD Indicator: The MACD line is below the signal line, indicating a bearish trend for the coin’s valuation.

Klingor Oscillator: The KO indicator currently in the bear zone, points towards a potential bullish cross-over after a bear phase for LTC.

1-day:

Source: TradingView

Parabolic SAR: The dotted line aligned below the candles predicts the coin to follow a bullish trait.

Awesome Oscillator: Additionally, the lines turning green in AO indicator also depicts a bullish phase for LTC.

Chaikin Money Flow: The CMF graph is still above the zero-line further indicating a bullish trend for the coin’s value.

Conclusion:

The hourly chart for LTC by MACD and KO predicts the coin hovering in bear’s territory along with a hint of price volatility. While the indicators- Parabolic SAR, AO and CMF for the 1-day chart fleeing to the bull’s zone after the brief collapse.

Source. ambcrypto

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Litecoin

Litecoin (LTC) Price Remains At Risk Of More Losses

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  • Litecoin price failed to stay above the crucial $75.20 support and extended losses against the US Dollar.
  • LTC price tested the $70.40 level and it remains at a risk of more losses.
  • There is a major bearish trend line in place with resistance at $76.20 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair could decline sharply if there is a break below the $70.40 and $70.00 support levels.

Litecoin price is currently trading below key supports against the US Dollar and bitcoin. LTC could tumble towards the $65.00 or $62.00 support if the $70.00 gives way.

Litecoin Price Analysis

In the past few days, there were range moves litecoin price below the $84.50 and $85.00 resistances against the US Dollar. The LTC/USD pair made a few attempts to break the $84.50 resistance, but it failed. As a result, there was a drop below the $78.00 support and the 55 simple moving average (4-hours). The decline was such that the price failed to stay above the crucial $75.20 support and extended losses. Sellers even kicked the price below the $72.50 support level and a new monthly low was formed near $70.40.

The price is currently consolidating gains above $70.50. It broke the 23.6% Fib retracement level of the last drop from the $79.77 high to $70.72 low.  On the upside, there is a strong resistance formed near the $75.20 and $75.40 levels. The 50% Fib retracement level of the last drop from the $79.77 high to $70.72 low is also near the $75.20 level. Moreover, there is a major bearish trend line in place with resistance at $76.20 on the 4-hours chart of the LTC/USD pair.

Finally, the 61.8% Fib retracement level of the last drop from the $79.77 high to $70.72 low is at $76.20. Therefore, the price is likely to struggle near the $75.20 and $76.20 resistance levels. Only a successful close above $78.00 and the 55 simple moving average (4-hours) could start a fresh increase.

Litecoin Price Analysis LTC USD Chart

Looking at the chart, litecoin price is clearly trading below key supports at $75.20. If it fails to recover above $75.20 and breaks the $70.40 support, there could be more losses. A clear break below the $70.00 support may push the price towards the $65.00 level. However, the main support is near the $61.40 level (the previous breakout resistance area).

Technical indicators

4 hours MACD – The MACD for LTC/USD is placed heavily in the bearish zone, with a lot of negative signs.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is currently recovering from 30, but it is well below 50.

Key Support Levels – $70.00 and $65.00.

Key Resistance Levels – $75.20 and $78.00..

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Litecoin (LTC/USD) forecast and analysis on April 25, 2019

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Cryptocurrency Litecoin (LTC/USD) is trading at 73.92. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bearish 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 April 25, 2019

As part of the Litecoin course forecast, a test level of 77.20 is expected. Where should we expect an attempt to continue the fall of LTC/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 64.10. The conservative Litecoin sales area is located near the upper border of the Bollinger Bands indicator at 82.00.

Litecoin (LTC/USD) forecast and analysis on April 25, 2019

Cancellation of the option to continue the decline in the rate of Litecoin will be a breakdown of the upper border of the Bollinger Bands indicator. As well as a moving average with a period of 55 and closing quotations of the pair above the 84.20 area. This will indicate a change in the current bullish trend for LTC/USD. In case of a breakdown of the lower 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 April 25, 2019 implies a test level of 77.20. Further, it is expected to continue falling to the area below the level of 64.10. The conservative area for selling Litecoin is located area of 82.00. The cancellation of the option of falling cryptocurrency will be the breakdown level 84.20. In this case, we can expect continued growth.

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Litecoin Technical Analysis: LTC/USD bears gunning for full April advance reversal

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  • Litecoin price on Wednesday is on the back foot, nursing losses of 1.8% late in the session. 
  • LTC/USD bulls failed to capitalize on a bullish pennant pattern technical structure. 
  • Bears are looking to go in for the kill with a full reversal of April gains.

Spot rate:                  72.73

Relative change:      -2.01%

High:                         75.22

Low:                          70.51

LTC/USD

OVERVIEW
Today last price 72.5556
Today Daily Change -1.7608
Today Daily Change % -2.37
Today daily open 74.3164
TRENDS
Daily SMA20 82.9349
Daily SMA50 69.3963
Daily SMA100 54.109
Daily SMA200 47.335
LEVELS
Previous Daily High 79.9394
Previous Daily Low 74.0157
Previous Weekly High 84.905
Previous Weekly Low 75.1323
Previous Monthly High 63.0977
Previous Monthly Low 45.1089
Daily Fibonacci 38.2% 76.2786
Daily Fibonacci 61.8% 77.6765
Daily Pivot Point S1 72.2416
Daily Pivot Point S2 70.1668
Daily Pivot Point S3 66.3179
Daily Pivot Point R1 78.1653
Daily Pivot Point R2 82.0142
Daily Pivot Point R3 84.089

 

LTC/USD 60-minute chart

  • Price action moving within a bearish near-term pennant pattern formation, subject to a breakout south.

LTC/USD daily chart

  • A descending channel can be eyed via the daily, which could even be perceived as somewhat of a bullish flag pattern.

 

 

source : fxstreet

 

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