Tag: litcoin

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Crypto Market Analysis

Litecoin – Could It Reach The Median Line Again?

Litecoin (LTC)

Litecoin Market Cap: $5.67B

Circulating Supply: 56.96M LTC

Max Supply: 84M LTC

Volume (24h): $321.53M

Technical Analysis

Litecoin is trading in the red and seems too heavy to be stopped in the short term. Right now it is pressuring a dynamic support and could take it out as well. It should drop further if it will close below this downside obstacle.

The crypto market has started to drop aggressively and could resume the downward movement in the upcoming days, so, Litecoin is somehow expected to drop further as well.

 


 

Technically, it is expected to drop further after the breakdown from the major triangle pattern and below the 109 – 106 support zone. Right now it is pressuring the 150% Fibonacci line, so a breakdown will signal a drop at least until the upside 50% Fibonacci line of the descending pitchfork. The major downside target remains at the median line (ML) of the descending pitchfork.

We would have a great selling opportunity if the rate had retested the broken levels, but the rate moved down very quickly and I don’t know if we’ll have a retest.

It is somehow expected to drop after another failure to reach and retest the upper median line (UML) of the descending pitchfork. Litecoin also failed to stabilise above the sliding line (sl) of the descending pitchfork, so all the signs are bearish.

Conclusion

Technically, Litecoin market cap is expected to drop further even if we have a minor rebound and a retest. If you decide to sell it, then you should place a Stop Loss above the 129.870 former high and a Take Profit near the median line (ML), somewhere around $50.

Categories
Crypto Market Analysis

Litcoin Further Increase Still Possible

Litcoin (LTC)

Market Cap. $8.53B

Circulating Supply: 56.22M LTC

Max Supply: 84M LTC

Volume (24H) $390.80M

 
 

Will Litecoin Recover April 2018

The Litcoin increased more than 19% in the last 7-day and is fighting hard to stay above some very important broken resistance levels. It is trading above the 150.000 psychological level, but unfortunately, it has shown a minor exhaustion in this weekend.

litecoin price analysis

Price has found temporary resistance right above the second warning line (wl2) of the former ascending pitchfork. Litcoin is almost to reach this line again after the retest of the 50% Fibonacci line of the descending pitchfork. Actually, the rate has made a false breakout above the warning line (wl2), so a retest will send the price down a little.

Maybe we’ll have a minor consolidation before the rate tries to break out from the descending pitchfork’s body. An accumulation above the 136.61 level could give us a great chance to go long on this major crypto again.

Personally, I believe that only a drop below the third warning line (wl3) and below the 50% Fibonacci line will invalidate a further increase in the upcoming period.

We’ll have a very important upside target somewhere at the first warning line (WL1) of the major descending pitchfork. Only a valid breakout above this line will confirm a further increase.

Will Litecoin recover - Litecoin chart analysis

Will Litecoin recover? You should stay away for now, because we don’t have a great buying opportunity. An accumulation above the 136.61 could bring more bullish energy. Technically, we have a very strong resistance line at the inside sliding line (SL) of the descending pitchfork.

The perspective will remain bullish as long as the rate stays above the 136.61 static support (resistance turned into support).

Categories
Crypto Market Analysis

Litcoin Losing The Bullish Momentum

  • Litcoin is struggling to increase further
  • NEO seems exhausted on the Daily chart
  • DASH/USD another false breakout

                                                                                                                                                          Source: investing.com

The major cryptocurrencies are fighting hard to stay higher, but it seems like prices will come down trying to recapture more directional energy. Bitcoin slipped below the $8000 level in the yesterday’s trading session, while the Ether continues to stay above the 500 psychological level.

Litcoin

Litcoin is the fifth most important crypto with a $7 537 807 784 market cap, and with a $514 562 000 daily volume. Unfortunately, Litcoin showed some exhaustion signs last night when has dropped aggressively and has erased more than half of the yesterday’s gains.

Price increased today and maybe will try to approach and reach the $140.49 yesterday’s high. It remains to see what will happen in the upcoming days because the rate is trapped below some very important resistance levels.

Litcoin - Forex Academy

Litcoin increased by 3.65% today and seems determined to challenge the 136.610 static resistance again. You can notice that the rate failed to retest the second warning line (wl2) of the former ascending pitchfork signaling exhaustion.

I’ve said in the previous article that the rate remains under pressure in the short term. Price moves in a range between the 136.61 and the 106.52 level. It could resume this range if the other major cryptocurrencies dropped again.

Technically, Litcoin could decrease a little towards the median line (ML) of the descending pitchfork in the upcoming period. I want to remind you that only a valid breakout above the upside 50% Fibonacci line (descending dotted line) will confirm a further increase towards the upper median line (UML).

We may have a great buying opportunity if the rate will decrease and if will fail to reach and retest the wl3, the 106.52 level and the median line (ML).

NEO/USD

NEO/USD surged by 23.80% in the last 7-days, but has failed to stabilize above the $70.00 and now could register another drop.

NEO/USD surged by 23.80% in the last 7-days

Technically, it has made two false breakouts above the lower median line (LML) of the ascending pitchfork signaling an overbought. The false breakout above the confluence area formed between the lower median line (LML) with the 23.6% retracement level could send the price at least till the 150% Fibonacci line (ascending dotted line). NEO/USD will become strongly bullish only when it will have enough energy to make a valid breakout above the LML. The crypto will drop sharply if will drop and will stabilize below the 150% line.

DASH/USD

DASH/USD - Forex Academy

Dash moves in range in the short term and has developed a symmetrical triangle. Price has made several false breakouts above the 50% Fibonacci line and now could slip lower. The Dash is trading at $363.60 after the failure to reach the $400 level in the last days.

A breakdown from the minor chart patter will lead the rate towards the lower median line (LML) and towards the outside sliding line (SL). I want you to know that only a valid breakout above the 50% Fibonacci line (ascending dotted line) will really confirm a broader rebound on Dash.

Conclusion

The major cryptocurrencies have found temporary resistance and now could lose altitude again. Technically, the crypto market is expected to increase in the upcoming period, but the upside movement will be a slower one.

© Forex.Academy

 

Categories
Crypto Market Analysis

Bitcoin Shines Again

The crypto market has finally managed to bounce back in the last days as expected. The major cryptocurrencies have registered important gains in the short term, but we still need a confirmation that we’ll have a larger upside movement. The current rebound could be only temporary and the major cryptocurrencies could come back down to test and retest some very important support levels before will have started a major upwards movement.

Will Bitcoin Rise Again

The rate dropped in the early morning and erased some of the yesterday’s gains. Bitcoin has managed to jump in the buyer’s territory in the short term but is too early to talk about a larger rebound at this moment. It has managed to pass above the 8000 psychological level and approaches a very strong dynamic resistance.

Will Bitcoin Rise Again

Bitcoin increased sharply on April 12 signaling that the corrective phase is completed. Price was almost to reach the second warning line (WL2) of the major descending pitchfork where it could find resistance again.

Maybe the rate will come back to test and retest the lower median line (lml) of the ascending pitchfork before will breakout above the WL2. The perspective will be bullish on the Daily chart as long as the price stays inside of the ascending pitchfork’s body and above the outside sliding parallel line (sl).

Bitcoin has lost the bearish momentum, so another leg higher was expected. Personally, I still believe that we may have a significant bullish movement in the second part of the year. It could become strongly bullish after will climb and will stabilize again above the 10000 psychological level and above the downside 50% Fibonacci line.

Ethereum rebound in play

The crypto decreased a little as well today, but the bias remains bullish on the short term. Ether jumped above the $500 again and should reach crucial resistance levels very soon.

Ethereum rebound in play

Price jumped above the 50% Fibonacci line (descending dotted line) of the descending pitchfork as expected. The next upside targets will be at the 565 level and at the upper median line (UML) of the descending pitchfork. Resistance could be found at the downside 50% Fibonacci line of the ascending pitchfork.

Ethereum could decrease to retest the broken 50% Fibonacci line and also the lower median line (lml) before will make a valid breakout above the UML of the descending pitchfork. Personally, I believe that only a valid breakout above the downside 50% Fibonacci line of the ascending pitchfork will really confirm a broader rebound.

Litcoin still under pressure

Litcoin still under pressure

Litcoin retested the second warning line (wl2) of the former ascending pitchfork and now is trading in the red again. Price moves sideways between the 106.52 and the 136.61 level. Only a breakout from this range and above the 50% Fibonacci line (descending dotted line) will confirm an increase towards the upper median line (UML) of the major descending pitchfork.

The failure to reach and retest the 106.52 lowest low has signaled an oversold and a potential bullish momentum. However, the rate could slip lower to test and retest 106.52 level, the median line (ML) and the third warning line (wl3) before will try to climb towards fresh new highs.

Conclusions

Bitcoin, Ethereum, and Litcoin increased in the short term and signaled that the major corrective phase could be completed. It is premature to talk about larger upside movements at this moment. We need confirmations on the major cryptocurrencies before we can go long on the medium to the long term.