Litecoin
Litecoin market overview: LTC/USD descending channel limits recovery
- Litecoin must brace for acute selling activity at $48 and $50 supply zones.
- Litecoin technical picture suggests that sideways trading is likely to be the prevailing trend in the next session.
The cryptocurrency market is turning red once again on Tuesday. The price action has been mostly drab with little progress on the upside. Litecoin is trading lower a subtle 0.15% on the day. The crypto correction to highs of $46.26 after opening the session at $45.63. The loss of momentum has seen the price adjust to the current market value at $45.57.
The failure to break the resistance at $50 on Friday last week, has seen Litecoin confined within a descending channel. The channel has been tested numerously on both sides but both the support and resistance remain intact.
The zone at $45 is coming out as a credible support, allowing a shallow recovery. Immediate resistance is at $46. Further correction north will have to deal
The RSI at 46 has started to range, which is a signal for sideways trading action. The uniform gap between the 50 SMA and the 100 SMA on the 1-hour chart out emphasis on the sideways trading too.
LTC/USD 1-hour chart
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- Litecoin trades 1.43% higher as crypto sentiment improves today.
- The price hit a resistance zone at the top of the rising wedge formation.
LTC/USD 10-Min Chart
Litecoin has been moving higher today and broke out of the 44.08 resistance zone.
Now the level has been broken the price has consolidated between 44.52 and 44.13.
A break higher would certainly be good for the bull but the 44.91 resistance lies in wait.
On the downside, the old 44.52 resistance level could become support the but major low is still at 42.84.
Like many of the other major crypto’s be wary as the market is still in a long term downtrend.
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Additional Levels
LTC/USD
| OVERVIEW | |
|---|---|
| Today last price | 44.3394 |
| Today Daily Change | 0.6495 |
| Today Daily Change % | 1.49 |
| Today daily open | 43.6899 |
| TRENDS | |
|---|---|
| Daily SMA20 | 45.8154 |
| Daily SMA50 | 53.1714 |
| Daily SMA100 | 57.8244 |
| Daily SMA200 | 80.5963 |
| LEVELS | |
|---|---|
| Previous Daily High | 44.0801 |
| Previous Daily Low | 42.8434 |
| Previous Weekly High | 48.5063 |
| Previous Weekly Low | 43.8063 |
| Previous Monthly High | 66.2492 |
| Previous Monthly Low | 42.351 |
| Daily Fibonacci 38.2% | 43.6077 |
| Daily Fibonacci 61.8% | 43.3158 |
| Daily Pivot Point S1 | 42.9955 |
| Daily Pivot Point S2 | 42.301 |
| Daily Pivot Point S3 | 41.7587 |
| Daily Pivot | 44.2322 |
| Daily Pivot Point R2 | 44.7745 |
| Daily Pivot Point R3 | 45.469 |
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
- Litecoin is still experiencing the impact of the death cross even as the hunt for a bottom continues.
- The RSI recovery towards 50 shows that the bulls are ready to regain control and stir some action upwards.
Spot rate: $43.76
Relative change: 0.0755
Percentage change: 0.17%
Trend: Bullish
Volatility: Low
LTC/USD daily chart
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Litecoin is grinding closer to a falling wedge pattern breakout most likely to reclaim lost ground heading to $100.
The declines are, however, slowing down as shown by the moving average gap, which has started to narrow.
LTC/USD 4-hour chart
Litecoin price attempts a breakout above the trendline resistance but the immediate upside is capped by the 50 SMA.
Litecoin bulls must reclaim the support at $45 to avoid declines into the $30’ range.
LTC/USD
| OVERVIEW | |
|---|---|
| Today last price | 43.7229 |
| Today Daily Change | 0.0330 |
| Today Daily Change % | 0.08 |
| Today daily open | 43.6899 |
| TRENDS | |
|---|---|
| Daily SMA20 | 45.8154 |
| Daily SMA50 | 53.1714 |
| Daily SMA100 | 57.8244 |
| Daily SMA200 | 80.5963 |
| LEVELS | |
|---|---|
| Previous Daily High | 44.0801 |
| Previous Daily Low | 42.8434 |
| Previous Weekly High | 48.5063 |
| Previous Weekly Low | 43.8063 |
| Previous Monthly High | 66.2492 |
| Previous Monthly Low | 42.351 |
| Daily Fibonacci 38.2% | 43.6077 |
| Daily Fibonacci 61.8% | 43.3158 |
| Daily Pivot Point S1 | 42.9955 |
| Daily Pivot Point S2 | 42.301 |
| Daily Pivot Point S3 | 41.7587 |
| Daily Pivot Point R1 | 44.2322 |
| Daily Pivot Point R2 | 44.7745 |
| Daily Pivot Point R3 | 45.469 |
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.
Cryptocurrency Litecoin (LTC/USD) is trading at 43.27. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Litecoin. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator stripes.
Litecoin (LTC/USD) forecast and analysis on December 13, 2019
As part of the Litecoin course forecast, a test of level 44.20 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 39.20. The conservative sales area for Litecoin is located near the upper border of the Bollinger Bands indicator strip at 45.80.
Cancellation of
Litecoin (LTC/USD) forecast and analysis on December 13, 2019 implies a test level of 44.20. Further, it is expected to continue falling to the area below the level of 39.20. The conservative area for selling Litecoin is located area of 45.80. Canceling the option of falling cryptocurrency will be a breakdown of the level of 46.20. In this case, we can expect continuation growth.
